Net interest income and fee revenue performance impact results

  • State Street’s net income for the quarter declined by 71% compared to the previous year
  • Revenue decreased by 4% to $3.04 billion
  • Net interest income declined by 14%
  • Total fee revenue remained flat
  • Provision for credit losses increased to $150 million

State Street, a provider of financial services to institutional investors, reported a decline in revenue for the latest quarter. The company’s net income dropped by 71% to $210 million, or 55 cents a share, compared to $733 million, or $1.91 a share, in the previous year. Revenue decreased by 4% to $3.04 billion, reflecting a 14% decline in net interest income and flat total fee revenue. The provision for credit losses increased to $150 million from $121 million. Analysts had expected earnings of 46 cents a share and revenue of $2.95 billion.

Public Companies: State Street (Unknown)
Private Companies:
Key People:

Factuality Level: 8
Justification: The article provides specific financial figures and quotes from State Street. It also mentions the expectations of analysts polled by FactSet, which adds credibility to the information. However, it does not provide any additional sources or perspectives to verify the accuracy of the information.

Noise Level: 7
Justification: The article provides relevant information about State Street’s decline in revenue and net income. However, it lacks in-depth analysis, scientific rigor, and actionable insights. It also does not explore the consequences of these financial results on the company or its stakeholders. The article stays on topic and supports its claims with data, but it does not provide a thoughtful analysis of long-term trends or antifragility.

Financial Relevance: Yes
Financial Markets Impacted: State Street

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses State Street’s decline in revenue and net income. However, there is no mention of an extreme event or its impact.

Reported publicly: www.marketwatch.com