State Street's first quarter 2026 revenue grew 16% to $3.8B, driven by strong fee income and NII growth.

State Street reported first quarter 2026 revenue of $3.8 billion, a 16% increase year-over-year, beating analyst expectations. While GAAP EPS was $2.49, adjusted EPS came in at $2.84, significantly surpassing consensus estimates. The company saw broad-based strength across its franchise, delivering record fee revenue and net interest income.

Key Highlights

• Total fee revenue grew 15% year-over-year to a record $2.96 billion, driven by double-digit growth in servicing, management, and FX trading fees.
• Net Interest Income (NII) increased 17% from the prior year to $835 million, exceeding expectations, supported by a 16 basis point expansion in Net Interest Margin.
• Assets under Custody/Administration (AUC/A) rose 17% to $54.5 trillion, and Assets Under Management (AUM) grew 20% to $5.6 trillion, both benefiting from higher market levels and net new business.