On a comparable operating basis, State Street expects to report second-quarter earnings of 93 cents a share on revenue of $2.2 billion. Analysts, on average, expect second-quarter earnings of 72 cents a share on revenue of $2.21 billion. The anticipated operating-basis results include about $48 million of net losses related to investment securities and a provision for credit losses of about $10 million, while excluding the tax charge and tax benefit. State Street noted that it will continue to cooperate with the Securities and Exchange Commission in its investigation of State Street's securities lending programs. -- Reported by Andrea Tse in New York Get more stock ideas and investing advice on our sister site, Stockpickr.com. Follow Andrea Tse on Twitter and become a fan on Facebook.
NEW YORK ( TheStreet) -- State Street ( STT) said Wednesday it anticipates earnings of 87 cents a share on revenue of $2.3 billion in the second quarter after recording a tax charge of $251 million, or 50 cents a share, and a one-time tax benefit of $180 million, or 36 cents a share.