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State Street Q2 Profit Tops View - Quick Facts

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State Street Corp. (STT: Quote) reported that its second-quarter net income available to common shareholders rose to $571 million from $480 million in the second quarter of 2012. Earnings per share was $1.24 from $0.98 in the same quarter last year.

On non-GAAP basis, net income available to common shareholders was $571 million up from $494 million in the second quarter of 2012. Earnings per share was $1.24 compared to $1.01 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.19 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenue improved to $2.56 billion from $2.42 billion in the year ago quarter. Non-GAAP revenue for the quarter was $2.58 billion compared to $2.46 billion in the prior year. Sixteen analysts estimated revenues of $2.54 billion for the quarter.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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This apparel maker has doubled its earnings per share in just two years and increased its annual earnings forecast from time to time, despite a challenging consumer spending environment. Contributions from acquisitions, efficiency gains from self-owned global supply chain and benefits from 'Innovate-to-Elevate' strategy continue to boost the company's results. Here is a quick summary of the earnings reported after the bell on Nov 20. We have 20+ stocks listed here. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed... Design software maker Autodesk, Inc. said Thursday after the markets closed that its third quarter profit fell 81% from last year, as higher costs and expenses more than offset an 11% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
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