NTRS

Key takeaways

• The quarter's defining event was a $461.4 million gain on the sale of Visa Inc. common stock, recorded in other noninterest income, which drove the 35.0% increase in total revenue to $2.70 billion.
• Excluding the Visa gain, the underlying business showed continued improvement: trust, investment and other servicing fees, the largest component of noninterest income, rose 12% year over year, reflecting higher market levels and new business.
• Operating income rose 88.5% to $1.06 billion, and the operating margin widened 11.2 percentage points to 39.5%, as the Visa gain and fee income growth outpaced a 3% increase in noninterest expenses.