Source: Sharecast
Revenues over the three months to 30 September totalled a record $5.08bn, up 9% year-on-year and ahead of the consensus estimate of $4.97bn.
The top line was supported by an 18% jump in net interest income to $1.24bn, due to the reinvestment of maturing investment securities at higher yields and balance sheet growth.
The company also reported a 7% rise in total fee revenues to $3.64bn, driven by net new business, higher client activity and market values, as well as the positive impact of a weaker US dollar.
Chief executive Robin Vince said results were boosted by "broad-based growth across the platforms that make up our Securities Services and Market and Wealth Services segments, and we continued to drive significant positive operating leverage".
Net income was 21% ahead of last year at $1.34bn, equating to diluted earnings per share of $1.88, up 25% year-on-year at ahead of the $1.77 consensus estimate.
The bottom line was strengthened by a solid increase in the pre-tax operating margin to 36% from 33% a year earlier.
The stock, which has jumped 42% so far this year, was trading 2% lower at $106.80 in pre-market trading.
