Mubasher: State Street Corp. reported a 13% year-on-year growth in profits for the third quarter of 2018, missing analysts' estimates for both its bottom line and revenue.
The US-based financial services and bank holding company logged $709 million in earnings, or $1.87 a share, versus $629 million in Q3-17.
Analysts polled by Refinitiv were expecting the company to post earnings of $1.89 a share, MarketWatch reported.
Total revenue increased by 3.7% to $2.95 billion in Q3-18, missing analysts’ expecting of $3.02 billion.
Source:
Mubasher