State Street falls on lower Q1 fee revenue

ReutersApr 17, 2025 12:23 PM

Shares of custodian bank State Street STT.N fall 3% to $77.26 premarket

The bank posts Q1 fee revenue at $2.57 billion, missing analysts' estimates of $2.60 billion, according to data compiled by LSEG

Assets under custody and administration rose 6% to $46.7 trillion

Company reports net interest income - the difference between what it earns on assets and pays out on liabilities - at $714 million, missing analysts' estimates of $728 million

Including session's moves, stock has fallen 18.9% YTD

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