- Language: English
- 1091 Pages
- Published: October 2012
- Region: Global
EARNINGS UPDATE: State Street Corp. Ratings Unaffected By Satisfactory Fourth-Quarter Earnings Jan 12
- Published: January 2012
- Standard & Poors
NEW YORK (Standard & Poor's) Jan. 19, 2012--Standard & Poor's Ratings Services today said its ratings on State Street Corp. (STT; A+/Negative/A-1) were not affected by the company's fourth-quarter earnings report, which we view as satisfactory in the context of the challenging market conditions. The net income available to common shareholders declined to $371 million in fourth-quarter 2011 from $543 million in the third quarter. However, on an adjusted operating basis, STT's net income of $454 million (excluding several items such as $120 million in pretax restructuring costs) declined a more modest 5% from the third quarter. The adjusted pretax operating margin was 28%, which is within our expectations for the ratings. Total operating revenue declined 5.3% from the third...
Companies mentioned in this report are: State Street Corp.
Action: General Comment
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State Street Corp.