State Street Corp reported results for the second quarter of 2026 with revenue of $4.05B and diluted EPS of $3.65, driven by higher fee revenue and net interest income that supported a 56% rise in net income versus the year‑ago quarter.
Financial Highlights
- Revenue was $4.05B, compared with $3.45B in the prior-year quarter; YoY change 17%.
- Net income was $1.08B, compared with $693M in the prior-year quarter; YoY change 56%.
- Diluted EPS was $3.65, compared with $2.17 in the prior-year quarter; YoY change 68%.
Business Highlights
- Total revenue rose 17% year over year in Q2 2026, led by 17% growth in fee revenue and 18% growth in net interest income as client activity and interest rates strengthened.
- Servicing and management fees, which account for roughly 70% of fee revenue, grew on higher assets under custody and administration (AUC/A) and assets under management (AUM).
- AUC/A reached $57.86T and AUM was $6.28T; the firm announced $384B in new servicing mandates and onboarded $228B during the quarter.
- Operational investments in technology, infrastructure and resiliency contributed to a modest rise in expenses; headcount declined about 3% through productivity efforts.
- Approximately $2.93T of servicing AUC/A remains to be installed, with about 65% expected to be installed in the remainder of 2026, indicating a pipeline for future revenue conversion.
Original SEC Filing:
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