State Street Corp. Announces Fall In Q3 Profit, misses estimates

(RTTNews) - State Street Corp. (STT) reported a profit for third quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $422 million, or $1.25 per share. This compares with $690 million, or $1.80 per share, in last year's third quarter.

Analysts on average had expected the company to earn $1.81 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.1% to $2.69 billion from $2.96 billion last year.

State Street Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $422 Mln. vs. $690 Mln. last year. -EPS (Q3): $1.25 vs. $1.80 last year. -Analyst Estimates: $1.81 -Revenue (Q3): $2.69 Bln vs. $2.96 Bln last year.