The people in the picture are State Street Corporation's big bosses, they tell the company what to do. They are like superheroes, they are very important for the company.
The bosses are happy because they made a lot of money this year, and they can share it with the people who work for them. The big bosses' names are Ron O’Hanley and Eric Aboaf, but Eric will leave the company next year to do something else. Don't worry, they have a plan to find a new big boss.
The people who invest in State Street Corporation are also happy because the company is doing very well, and they are making more money too.
So, everything is good, and everyone is happy at State Street Corporation.
Benzinga:
"State Street Corporation STT reported strong third-quarter results, with earnings per share exceeding analyst expectations. Quarterly earnings per share of $2.26 beat the analyst consensus estimate of $2.12. Quarterly sales of $3.26 billion outpaced the street view of $3.19 billion. Total revenue rose by 21%, largely due to the impact of a notable item from the previous year. Excluding notable items, total revenue increased by 9%. Fee revenue increased 11%, while NII increased 16%. Investment Management AUM as of quarter-end increased 29% to $4.7 trillion, reflecting higher quarter-end market levels and solid quarterly net inflows. "
"The CEO added that the Global Markets franchise experienced increased client penetration, and Global Advisors achieved quarterly net inflows of $100 billion, bolstered by a strong performance in the Cash business."
"The standardized common equity tier 1 (CET1) ratio at the end of the third quarter of 2024 was 11.6%, an increase of 0.6 percentage points from the previous quarter and 0.4 percentage points from the second quarter of 2024."
"The firm announced that Eric Aboaf, Vice Chairman and Chief Financial Officer (CFO), has decided to leave State Street in February 2025. State Street has initiated its succession plan with both internal and external search processes."
"Price Action: STT shares are trading higher by 1.45% to $92.25 premarket at last check Tuesday."
Basically, State Street Corporation did very well in the third quarter of this year, and the bosses are happy. They made a lot of money, and they can share it with the people who work for them. The big boss, Eric Aboaf, is going to leave the company next year, but they have a
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