State Street Corp. (NYSE:STT) delivered double-digit profit growth AND topped Wall Street’s revenue expectation. Net income increased 22.8% to $468 million ($1 per diluted share) in the quarter versus a net gain of $381 million in the year-earlier quarter. Revenue decreased 2.96% to $2.46 billion from the year-earlier quarter.
State Street Corp. reported adjusted net income of $1 per share. By that measure, the company met the mean analyst estimate of $1. It beat the average revenue estimate of $2.36 billion.