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State Street Operating Earnings Beat Analysts View

Jan 19, 2011 | Reprints | Print

StateStreet_Logo_standard Boston-based State Street Corp.’s quarterly earnings fell on charges to reposition its portfolio late last year.

The company, which also earns fees for offering services like record-keeping to mutual and hedge funds, said today net income stood at $83 million, down from $498 million, a year earlier.

On an operating basis, the company beat analysts’ expectations by one penny in reporting earnings of 87-cents a share, up from 71-cents a share a year earlier as revenue rose 9.6 percent to $2.28 billion in the quarter. (Reuters)

Banking & Lending