State Street reported earnings per share of $2.04 for the first quarter of 2025, up 49% year-over-year and 21% when excluding notable items.

Total revenue increased by 5% to $3.28 billion, driven by a 6% rise in fee revenue. Servicing fees rose 4%, management fees increased 10%, and front office software and data revenue grew 10%. Expenses declined 3% overall but rose 3% when excluding notable items, resulting in positive operating leverage. Net income was $644 million, up 39% from the prior year. Assets under custody and/or administration reached $46.7 trillion, up 6%, while assets under management rose 9% to $4.7 trillion.

New servicing wins added $55 million in annual revenue and $182 billion in AUC/A, with $3.1 trillion still to be installed in future quarters. State Street returned $320 million to shareholders through dividends and buybacks. The Common Equity Tier 1 capital ratio under the standardized approach was 11.0%, and liquidity coverage ratio stood at 106%. Despite a sequential decline in EPS and net income from Q4 2024, the company emphasized strong financial discipline, broad-based revenue growth, and strategic client wins. CEO Ron O’Hanley highlighted resilience in navigating geopolitical and macroeconomic uncertainty and affirmed confidence in the firm's long-term strategy.