State Street (STT) Revenue — Quarter Ended Sep 30, 2023
Revenue for the quarter declined compared to both the prior quarter and the same quarter a year ago. The decrease reflects a notable contraction in the company's top line.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue for the quarter declined compared to both the prior quarter and the same quarter a year ago. The decrease reflects a notable contraction in the company's top line.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.7B
Revenue reported for this quarter.
Quarter-over-quarter
-13.5%
Change from the immediately preceding quarter.
Year-over-year
-9.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$12.1B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $3.2B | +3.3% |
| Mar 31, 2023 | $3.1B | +0.6% |
| Jun 30, 2023 | $3.1B | +5.3% |
| Sep 30, 2023 | $2.7B | -9.1% |
Revenue performance
The reported revenue direction is downward, with the metric posting a decline from the preceding quarter.
Quarterly comparison
Revenue fell compared to the immediately preceding quarter and also declined relative to the same quarter one year earlier.
What to watch
The filing context discusses risk management and credit loss allowances, but does not explain the specific revenue change.