![STATE STREET CORP [STT-PG] reports annual net loss of $1.9 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FSTT-PG.png&w=3840&q=75)
STATE STREET CORP [STT-PG] reports annual net loss of $1.9 billion
Company Reports Revenue of $11.9 billion
STATE STREET CORP [STT-PG] has reported a net loss of $1.9 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $11.9 billion
Based in BOSTON, Massachusetts, STATE STREET CORP operates in the FINANCE sector.
In the period ending December 31, 2023, the financial report shows a slight decrease in fee revenue compared to the same period in 2022. The total fee revenue for 2023 amounts to $9.48 million, while it was $9.61 million in 2022. This decline can be attributed to decreases in servicing fees, management fees, and foreign exchange trading services.
Net interest income, on the other hand, saw an increase from $2.54 million in 2022 to $2.76 million in 2023. This was mainly driven by a significant increase in interest income from $4.08 million in 2022 to $9.18 million in 2023. Interest expenses also rose but were outweighed by the boost in interest income.
