State Street Q4 Profit Plunges 71%, But Results Top Estimates

(RTTNews) - State Street Corp. (STT) reported Friday that net income for the fourth quarter decreased 2 percent to $210 million from $733 million from last year, with earnings per share declining 8 percent to $0.55 from last year's $1.91.

Excluding items, the company reported adjusted earnings of $2.04 per share for the quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $1.83 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter decreased 3.5 percent to $3.04 billion from $3.16 billion in the same quarter last year. Analysts expected revenues of $2.95 billion for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com