State Street plans to cut 630 jobs worldwide

Published on NewsOK Modified: January 18, 2013 at 10:46 am •  Published: January 18, 2013
Advertisement
;

The company's shares gained 32 cents to $50.70 before the market open.

State Street reported an increase in servicing fees and investment management fees during the quarter. Trading services revenue, which includes foreign-exchange trading revenue and brokerage and other fees, fell mostly because of foreign-exchange trading softness.

Assets under management, the value of the assets State Street invests for its customers, improved to $2.09 trillion at the end of the quarter from $1.85 trillion a year earlier.

The Boston company's full-year net income rose 7 percent to $2.02 billion, or $4.20 per share, from $1.88 billion, or $3.79 per share, in the prior year. Annual revenue climbed slightly to $9.65 billion from $9.59 billion.

State Street shares rose $3.07, or 6.1 percent, to $53.45 in midday trading after rising as high as $54.17 earlier in the session. FactSet says that was its highest level since August 2009.


Trending Now


AROUND THE WEB

  1. 1
    High school football: Sperry rallies for win week after lineman dies
  2. 2
    New video shows beheading of British aid worker David Haines by Islamic State group
  3. 3
    OU football: Jordan Phillips breaks out 'Shmoney dance' after sack against Tennessee
  4. 4
    VIDEO: Oklahoma State WR Brandon Sheperd catches 18-yard touchdown from Daxx Garman
  5. 5
    OSU football: J.W. Walsh watches first quarter of OSU-UTSA from the top of Boone Pickens Stadium
+ show more