State Street (GB:0L9G)
LSE:0L9G
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Earnings Data
Report Date
Jul 10, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
3.08Last Year’s EPS
2.53Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strongly positive operational and financial performance for Q1 2026: record revenues, double-digit growth across key lines (fee revenue, NII), strong inflows and ETF leadership, meaningful operating leverage and upgraded full-year guidance. Strategic initiatives (digital assets, tokenization, AI, software/SaaS momentum) reinforce longer-term growth optionality. Challenges include higher expense growth and raised expense guidance, a modest quarter-end CET1 decline due to RWA normalization, $130 million of notable items, and some uncertainty around platform distribution fee changes and potential moderation of Markets volatility. Overall, the positives—scope, scale, upgraded guidance, and execution on strategic initiatives—materially outweigh the manageable headwinds called out by management.Company Guidance
Record Quarterly Revenue and Strong EPS Growth
Total revenue reached a record $3.8 billion, up 16% year-over-year. Reported EPS increased 22% year-over-year; EPS excluding notable items grew 39% year-over-year.
Robust Net Interest Income and NIM Expansion
Net interest income was $835 million, up 17% year-over-year. Net interest margin expanded ~16 basis points to 116 bps, with average interest-earning assets up 1%.
Fee Revenue, AUM and Net Inflows Momentum
Fee revenue totaled $3.0 billion, up 15% year-over-year. Assets under management rose 20% to $5.6 trillion. Net inflows were $49 billion for the quarter, including $25 billion into ETFs.
Outstanding ETF Performance and Distribution
SPYM attracted $27 billion of inflows in the quarter and was the largest asset-gathering ETF globally. SPY had nearly $4 trillion of notional traded (≈17% of U.S.-listed ETF volume).
Markets and FX Trading Strength
FX trading revenue grew 29% year-over-year to $435 million, driven by a 25% increase in client trading volumes. Securities finance revenue increased 2% year-over-year.
Software Services and Recurring Revenue Growth
Software services revenue increased 7% year-over-year. Annual recurring revenue grew 12% and software revenue backlog rose 11%, supporting multi-year SaaS growth momentum.
Positive Operating Leverage and Margin Expansion
Excluding notable items, the firm delivered over 600 basis points of positive operating leverage in the quarter. Pretax margin expanded ~400 basis points year-over-year and ROTCE rose roughly four percentage points to 20%.
Upgraded Full-Year Guidance
Management raised full-year guidance (ex-notable items): fee revenue growth to 7–9% (previously 4–6%), NII growth to 8–10% (from low single-digits), and now expects expenses to grow 5–6% with an effective tax rate of ~22%.
Capital Deployment and Shareholder Returns
Returned $633 million in Q1 (repurchases $400 million + dividends $233 million). Q1 payout ratio was ~90%; management continues to target roughly an 80% total payout ratio for the full year (GAAP basis).
Strategic Progress: Digital Assets, Tokenization and AI
Launched a digital asset platform with a roadmap for tokenization (tokenized funds, cash). Preparing tokenized fund launches and a tokenized liquidity sweep fund. AI initiatives include an AI Foundry with ~200 use cases (70 live) and agent-enabled service delivery planned in July.
GB:0L9G Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
GB:0L9G Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 17, 2026 | $142.57 | $147.88 | +3.72% |
Jan 16, 2026 | $135.53 | $129.39 | -4.53% |
Oct 17, 2025 | $111.04 | $108.54 | -2.26% |
Jul 15, 2025 | $107.89 | $100.85 | -6.52% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does State Street (GB:0L9G) report earnings?
State Street (GB:0L9G) is schdueled to report earning on Jul 10, 2026, Before Open (Confirmed).
What is State Street (GB:0L9G) earnings time?
State Street (GB:0L9G) earnings time is at Jul 10, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of State Street stock?
The P/E ratio of State Street is N/A.
What is GB:0L9G EPS forecast?
GB:0L9G EPS forecast for the fiscal quarter 2026 (Q2) is 3.08.
