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State Street Full Year 2024 Earnings: In Line With Expectations
State Street (NYSE:STT) Full Year 2024 Results
Key Financial Results
- Revenue: US$12.9b (up 8.6% from FY 2023).
- Net income: US$2.48b (up 36% from FY 2023).
- Profit margin: 19% (up from 15% in FY 2023). The increase in margin was driven by higher revenue.
- EPS: US$4.17.
All figures shown in the chart above are for the trailing 12 month (TTM) period
State Street Meets Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.
The primary driver behind last 12 months revenue was the Investment Servicing segment contributing a total revenue of US$10.6b (82% of total revenue). The largest operating expense was General & Administrative costs, amounting to US$6.96b (67% of total expenses). Explore how STT's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Capital Markets industry in the US.
Performance of the American Capital Markets industry.
The company's shares are down 2.6% from a week ago.
Risk Analysis
What about risks? Every company has them, and we've spotted 1 warning sign for State Street you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About NYSE:STT
State Street
Through its subsidiaries, provides a range of financial products and services to institutional investors worldwide.
Undervalued with excellent balance sheet and pays a dividend.
