State Street (STT) Reports Earnings Tomorrow: What To Expect
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Financial services giant State Street STT will be reporting results this Thursday before the bell. Here's what to expect. State Street beat analysts' revenue expectations last quarter, reporting revenues of $3.80 billion, up 15.6% year on year. It was a very strong quarter for the company, with a beat of analysts' EPS estimates. Is State Street a buy or sell going into earnings? Read our full analysis here, it's free for active Edge members. This quarter, the market is expecting State Street's revenue to grow 12.4% year on year, improving from the 8.7% increase it recorded in the same quarter last year. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. State Street rarely misses Wall Street's revenue estimates. Looking at State Street's peers in the capital markets segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Goldman Sachs delivered year-on-year revenue growth of 39.5%, beating analysts' expectations by 23.7%, and FactSet reported revenues up 6.4%, topping estimates by 1.1%. FactSet traded up 8.7% following the results. Read our full analysis of Goldman Sachs's results here and FactSet's results here. There has been positive sentiment among investors in the capital markets segment, with share...
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