State Street Corp. Profit Retreats In Q1, misses estimates

(RTTNews) - State Street Corp. (STT) revealed earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $463 million, or $1.37 per share. This compares with $549 million, or $1.52 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.50 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.3% to $3.14 billion from $3.10 billion last year.

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

-Earnings (Q1): $463 Mln. vs. $549 Mln. last year. -EPS (Q1): $1.37 vs. $1.52 last year. -Revenue (Q1): $3.14 Bln vs. $3.10 Bln last year.