State Street Beats Revenue Estimates as It Gets More From Fees

Key TakeawaysState Street on Friday reported first-quarter revenue that exceeded forecasts as the financial institution made more on fees.Servicing, management, and software and processing fees all increased.The bank's assets under custody/administration (AUC/A) and assets under management (AUM) both set record highs. Shares of State Street (STT) rose in intraday trading Friday after the financial services provider posted better-than-expected revenue on higher fees. The bank reported overall first-quarter r ...