STT Filings — State Street Corporation - FilingSpy
STT
State Street Corporation
One of the world's largest financial services firms, State Street guards trillions in assets for pension funds, governments, and other institutional investors, offering custody, fund administration, and investment management—including its well-known SPDR exchange-traded funds. It began as the Union Bank in Boston in 1792, taking its name from State Street, the city's historic "Great Street to the Sea." Its vaults famously survived the Great Boston Fire of 1872, and it helped launch the nation's first mutual fund in 1924.
State Street Q2 2026 revenue rose 17.4% to $4.048B and diluted EPS rose 68.2% to $3.65
Quarterly profit rose to a record share of . Revenue rose 17.4% to $4,048M and rose 68.2% to $3.65 as fee revenue and grew and prior-year notable costs did not repeat. The capital ratio sits below target after another quarter of shareholder returns.
Key takeaways
rose 8.5 points to 34.3% as total expenses rose 5% to $2.7B, partially offset by the absence of prior-year , while rose 17.4% to $4,048M.
Total fee increased 17% to $3.2B, led by management fees up 29%, foreign exchange trading services up 26%, and servicing fees up 13%, from higher market levels and net inflows.
grew 18% to $860M, primarily due to a 17 increase in to 1.13%.
Section summaries
Management's Discussion and Analysis
Total revenue rose 17% to $4.0B in Q2 2026, driven by higher fee revenue and NII, with pre-tax margin expanding to 34.3%.
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Total fee increased 17% to $3.2B, led by management fees (+29%), foreign exchange trading services (+26%), and servicing fees (+13%).
The decreased to 10.8% from 11.6% at year-end 2025, mainly from and $631M returned to shareholders via $400M buybacks and $231M dividends.
reached $57.86T, up 18%, and reached $6.28T, up 23%, both driven by higher market levels and net inflows.
rose 68.2% to $3.65, with the gain reflecting growth and the absence of the prior-year charges that weighed on Q2 2025.
What changed
The CET1 ratio flag from Q1 2026 (fell to 10.6%, below 10-11% target) continued: Q2 shows 10.8%, still below the 11.6% year-end 2025 level and outside the target range.
Q2 2026 pace under the $5.0B authorization: $400M bought, consistent with $633M returned in Q1, leaving further capacity from the $2.9B remaining at Sept 2025.
Operating and were -$2.3B and -$3.0B in Q2 2026 versus -$8.4B and -$8.8B a year earlier; the table marks both as not meaningful against prior-year figures.
The large client ETF asset transition flagged through 2024 and 2025 did not reappear as a drag; servicing fees rose 13% in Q2 2026.
Full-year 2025 repositioning charges of $326M and Q1 2026 of $130M were absent in Q2 2026 expenses, which rose only 5%.
What to watch
in Q3 2026 after two quarters below the 10-11% target range at 10.6% then 10.8%.
Q3 2026 pace under the $5.0B authorization after $400M bought in Q2 2026.
Q3 2026 operating and after Q2 showed -$2.3B and -$3.0B.
trajectory after it rose to 1.13% in Q2 from 1.16% in Q1 2026.
grew 18% to $860M, primarily due to a 17 increase in to 1.13%.
Total expenses rose 5% to $2.7B, reflecting higher -related costs and strategic investments, partially offset by the absence of prior-year notable items.
reached $57.86 trillion (+18% ) and reached $6.28 trillion (+23% YoY), driven by higher market levels and net inflows.
decreased to 10.8% from 11.6% at year-end 2025, mainly due to RWA normalization and capital return, partially offset by earnings.
The company returned $631M to shareholders in Q2 2026 via $400M in share repurchases and $231M in common dividends.
Quantitative and Qualitative Disclosures About Market Risk
The information provided in “Market Risk Management” included under Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations in this Form 10-Q, is incorporated by reference herein. For additional information on our market risk, refer to "Mark…
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The information provided in “Market Risk Management” included under Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations in this Form 10-Q, is incorporated by reference herein.
For additional information on our market risk, refer to "Market Risk Management" included under Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations, in our 2025 Form 10-K.