State Street Corporation (STT) reported quarterly earnings of $1.69 per share for Q1 2024, exceeding the Zacks Consensus Estimate of $1.48 per share and up from $1.52 per share a year ago. This marks a 14.19% earnings surprise. The company also generated revenues of $3.14 billion in the same quarter, surpassing expectations by 2.54% and showing an increase from $3.1 billion year-over-year.
Despite these results, State Street shares have declined 4.6% since the beginning of the year, while the S&P 500 has gained 9%. Analysts project a consensus EPS estimate of $2.07 on revenues of $3.12 billion for the upcoming quarter. The PNC Financial Services Group, which operates in the same industry, is set to release its quarterly earnings on April 16, with forecasts indicating earnings of $3.09 per share and revenues of $5.19 billion.
