For the quarter ended 30 September 2012, earnings per common share (EPS) were $1.36, compared to $1.10 reported in the parallel quarter of 2011.
Revenue for the quarter declined to US$2.36 billion from $2.43 billion in the third quarter of 2011.
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The company’s expenses decreased 21% to US$1.42 billion from US$1.80 billion reported in the third quarter of 2011.
Return on average common shareholders’ equity (ROE) of 13.3% increased 11.2% in the third quarter of 2011.
Commenting on the results, State Street chairman, president and CEO Joseph Hooley said, "Our third-quarter results reflect continued resilience across both asset servicing and asset management, partially offset by weakness in trading services. In a difficult environment, we were able to achieve positive operating leverage by controlling expenses and by continuing to implement our business operations and information technology transformation program.
"Although equity markets have improved, clients remain conservative in their investment allocations which adversely affect our revenue. We continue to see demand for our solutions as evidenced by $211 billion of new asset servicing wins, net new assets of US$78 billion to be managed by State Street Global Advisors and a strong pipeline," Hooley added.
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