Earnings Call
Apr 17, 2026
Q1 FY2026
EPS Estimate
2.64
EPS Actual
2.84
Post-Earnings Close
$145.43
Earnings Reaction
+2.5%
State Street delivered a standout first quarter in 2026, posting record total revenue of $3.8 billion, up 16% year-over-year, alongside record fee revenue of $3.0 billion and record net interest income of $835 million. Excluding notable items, EPS grew 39% year-over-year, marking the ninth consecutive quarter of positive operating leverage on that basis, with pretax margin expanding roughly 400 basis points. The breadth of the beat was notable: every major revenue line contributed, and the company raised its full-year fee revenue guidance to 7%-9% growth (from 4%-6%) and NII guidance to 8%-10% (from low single digits), while absorbing a modest upward revision to expense growth of 5%-6% (from 3%-4%) driven predominantly by revenue-related costs.
Report generated on Apr 17, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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