State Street Q4 Adj EPS $2.04 Beats $1.83 Estimate, Sales $3.04B Beat $2.95B Estimate
Portfolio Pulse from Benzinga Newsdesk
State Street Corporation (NYSE:STT) reported Q4 adjusted earnings per share (EPS) of $2.04, surpassing the analyst consensus estimate of $1.83 by 11.48%. However, this represents a 1.45% decrease from the $2.07 EPS reported in the same quarter last year. Quarterly sales reached $3.04 billion, exceeding expectations of $2.95 billion by 3.15%, but marking a 3.55% decline from the $3.15 billion reported in the previous year's comparable quarter.
January 19, 2024 | 12:35 pm
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State Street's Q4 earnings and sales surpassed analyst estimates, with EPS at $2.04 against an expected $1.83 and sales at $3.04B against an expected $2.95B. Despite beating estimates, there was a slight year-over-year decline in both earnings and sales.
Beating both EPS and sales estimates is a positive signal to investors and could lead to a short-term increase in stock price. However, the year-over-year decline in these figures might temper investor enthusiasm, suggesting a more moderate impact.
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RELEVANCE 100