After falling short of analyst expectations last quarter, State Street (NYSE:STT) will try to redeem itself when it reports again on Tuesday.
Analysts currently expect State Street to come in with earnings of 99 cents per share on revenues of $2.43 billion. Analyst estimates range from 95 cents per share to $1.06 per share. Over the past three months, the average estimate has moved up from 98 cents.
Last Quarter's Results
In the first quarter, profit fell 9.3% to $427 million (85 cents a share) from $471 million (93 cents a share) the year earlier, missing analyst expectations. Revenue rose 0.3% to $2.56 billion from $2.55 billion.
Analysts are bullish on the stock as 15 analysts rate it as a buy and only one analyst rate it as a sell. The average analyst rating of the stock has stayed steady from three months prior.
The stock fell $5.12 per share between April 30, 2012 and May 18, 2012.
Company Fundamental Trends This earnings announcement is definitely a chance to return to form after last quarter's profit drop broke a streak of income increases. Before falling in the first quarter, revenue rose 18.8% in the second quarter of the last fiscal year, 1.6% in the third quarter of the last fiscal year and more than fourfold in the fourth quarter of the last fiscal year.
Reporting Period: 2Q
Date of Release: Tuesday, July 17, 2012 before market open
EPS: 99 cents
Revenue Estimate: $2.43 billion
(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)