Key facts
- State Street's quarterly profit increased by 56% year-over-year.
- Total fee revenue grew 17% to $3.19 billion.
- Assets under custody and administration reached $57.86 trillion, an 18% increase.
- Assets under management increased by 23% to $6.28 trillion.
- Foreign exchange trading services revenue saw a nearly 26% jump.
- Earnings per share rose to $3.65 from $2.17 a year prior.
State Street reported a significant increase in its quarterly profit, with earnings rising 56% year-over-year to $1.08 billion, or $3.65 per share. This growth was primarily fueled by a robust performance in fee income.
The custodian bank's total fee revenue climbed 17% to $3.19 billion for the quarter ended June 30. Assets under custody and administration saw an 18% increase, reaching $57.86 trillion, attributed to higher market levels, client flows, and net new business. Investment management assets under management also experienced substantial growth, rising 23% to $6.28 trillion compared to the previous year.
Further contributing to the strong financial results, State Street's foreign exchange trading services revenue jumped nearly 26% to $494 million, driven by increased client volumes, particularly in the Asia-Pacific region. The bank's shares, which have already gained nearly 45% in 2026, were up 1.8% in pre-market trading.