State Street ( (STT) ) has released its Q4 earnings. Here is a breakdown of the information State Street presented to its investors.
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State Street Corporation, a leading financial services company, provides institutional investors with investment servicing, management, and research and trading services across global markets.
In its fourth quarter 2024 earnings report, State Street announced an increase in diluted earnings per share to $2.46, with revenue growth driven by notable increases in fee and net interest income. The company highlighted strong business momentum and strategic execution, achieving significant new business wins and exceeding its financial outlook for the year.
Key financial metrics showed total revenue rising by 12% year-over-year, with fee revenue up by 13% and net interest income increasing by 10%. The company’s assets under custody and administration reached $46.6 trillion, while assets under management grew to $4.7 trillion. Significant achievements included new servicing fee revenue wins of $154 million and over $1 trillion in new asset custody and administration wins.
Operating expenses decreased by 14%, reflecting the impact of notable items, while the net income surged significantly compared to the previous year. The company’s capital return strategy included $770 million returned to shareholders through share repurchases and dividends.
Looking ahead, State Street’s management remains focused on executing strategic priorities for sustainable growth, maintaining expense discipline, and continuing capital returns to shareholders, aiming to build on the strong foundation laid in 2024.
