SPY Parent State Street's Q2 Beat Overshadowed By Rising Costs, Dwindling Net Interest Income

State Street Corporation (NYSE:STT) shares are trading lower on Tuesday after reporting second-quarter results.

The company reported adjusted earnings per share of $2.53, beating the analyst consensus estimate of $2.37. Quarterly sales of $3.448 billion (+8% year over year) outpaced the Street view of $3.347 billion.

Investment Management AUM as of quarter-end increased 17% to $5.1 trillion, mainly driven by higher quarter-end market levels and net inflows.

Also Read: JPMorgan, Citi To Kick Off Bank Earnings As Wall Street Sees Profit Boom

This figure includes the Assets Under Management of the SPY ETF, one of the company's flagship offerings. The ...