{"id":34705,"date":"2023-07-12T13:45:49","date_gmt":"2023-07-12T17:45:49","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/what-to-expect-from-state-street-stock-in-q2\/"},"modified":"2023-07-12T13:45:51","modified_gmt":"2023-07-12T17:45:51","slug":"what-to-expect-from-state-street-stock-in-q2","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=34705","title":{"rendered":"What To Expect From State Street Stock In Q2?"},"content":{"rendered":"
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State Street (NYSE: STT) is scheduled to report its fiscal Q2 2023 results on Friday, July 14, 2023. We expect State Street to edge past the consensus estimates. The custody banking giant missed the street expectations in the last quarter. It posted total revenues of 3.1 billion, a slight increase on a year-on-year basis. It was due to a 9% drop in the total fee income, offsetting the 50% jump in the net interest revenues. While the fee income mainly suffered due to lower market valuations and the negative impact of foreign exchange movements, the net interest income benefited from improvement in the net interest margin. We expect the same trend to continue in Q2.<\/p>\n

Our forecast indicates that State Street\u2019s valuation<\/strong> <\/strong>is $85 per share, which is 14% above the current market price of just below $75. Our interactive dashboard analysis on State Street\u2019s Earnings Preview<\/strong> has more details. <\/strong><\/p>\n

(1) Revenues marginally beat the consensus estimates<\/strong><\/p>\n

State Street\u2019s revenues<\/strong> marginally increased to $12.15 billion in FY 2022. It was due to a 34% y-o-y jump in NII, almost offset by a 4% drop in the total fee income.<\/p>\n

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