- First-quarter net income to common shareholders of $443 million, or 96 cents a share
- Earnings beat the consensus EPS estimate of 93 cents
- Total revenue of $2.470 billion slightly below consensus estimate of $2.479 billion
- Assets under custody, administration and management grow 3% sequentially and 10% year-over-year
State Street's net interest revenue declined to $577 million in the first quarter from $600 million in the fourth quarter and $607 million in the first quarter of 2012. The sequential decline reflected the lower number of days in the first quarter. The year-over-year decline resulted from a narrowing of the net interest margin to 1.31% in the first quarter from 1.36% the previous quarter and 1.52% a year earlier.
State Street CEO Joseph L. Hooley said "the strength in the equity markets, combined with higher volumes and increased volatility in foreign-exchange trading, supported our fee revenue. We continue to control expenses across the organization and generate benefits from our transformation program."