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April 20, 2020

State Street reports 25% surge in Q1 2020 net income

By Patrick Brusnahan

In a welcome sign among Wall Street firms amidst the Covid-19 pandemic, State Street has reported a 25% jump in Q1 2020 net income.

The asset manager registered a net income of $634m in the three-month period ended 31 March 2020, versus $508m in the prior year.

Total revenue increased 5% to $3.06bn from $2.93bn.

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