State Street Corp. Q3 Profit Increases, Beats Estimates

(RTTNews) - State Street Corp. (STT) revealed earnings for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $730 million, or $2.26 per share. This compares with $422 million, or $1.25 per share, in last year's third quarter.

Excluding items, State Street Corp. reported adjusted earnings of $682 million or $2.26 per share for the period.

Analysts on average had expected the company to earn $2.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.1% to $3.259 billion from $2.691 billion last year.

State Street Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $730 Mln. vs. $422 Mln. last year. -EPS (Q3): $2.26 vs. $1.25 last year. -Revenue (Q3): $3.259 Bln vs. $2.691 Bln last year.