State Street Corporation
State Street Corporation Q2 FY26 Results — Earnings Call Analysis
Q2 FY26 earnings call: what management said on revenue, margins and capex.
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What the Q2 FY26 call signalled
2 of 4 strong
The short version
- Fee revenue growth is expected in the 7% to 9% range for 2026, up from the previous 4% to 6% outlook, driven by strong Q1 performance and continued organic growth. - Expecting continued strong earnings growth, with Q1 marking the ninth consecutive quarter of year-over-year positive operating leverage (excluding notable items).
From State Street Corporation's Q2 FY26 earnings-call transcript · updated 29 May 2026.
Revenue & Sales Performance
- Fee revenue growth is expected in the 7% to 9% range for 2026, up from the previous 4% to 6% outlook, driven by strong Q1 performance and continued organic growth.
- Software Services shows momentum with 7% YoY revenue growth, 12% growth in annual recurring revenue, and 11% increase in revenue backlog.
- FX trading volumes reached record levels, supporting a 29% YoY increase in FX trading revenue.
- Net interest income growth is projected at 8% to 10%, improved from prior low single digits due to net interest margin expansion.
- Strong ETF inflows, notably the SPYM ETF ranked #1 globally in Q1 with $27 billion inflows, indicating expanding wealth channel distribution.
2 more points from State Street Corporation's call on revenue
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Profitability & Margins
See what State Street Corporation said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Ongoing investments in technology modernization and transformation, including embedding agile ways of working and solidifying a product platform approach.
- Significant focus on AI: centralized AI hub supporting over 200 use cases, with tangible business impact expected in the second half of 2026.
- Continued investments in client acquisition, product extensions, and geographic expansion, particularly in the Markets business and FX trading capabilities.
- Strategic investments in building digital asset platforms, including tokenization of assets, funds, and cash, supporting digital finance transition.
- Ongoing investment in Wealth Services, leveraging Charles River and Apex Financial Solutions to build a scalable wealth custody and clearing solution.
- Investments in ETF business expansion, both in client segments and geographic channels.
2 more points from State Street Corporation's call on capex
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- Software services uninstalled revenue backlog increased by 11% year-over-year in Q1.
- Annual recurring revenue (ARR) for software grew 12% year-over-year, reflecting strong platform adoption.
- Multiyear revenue growth in software services has consistently been around low double-digits (approx. 10-12%).
2 more points from State Street Corporation's call on order book
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Continue your research
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- Evercore Inc. (Q2 FY26)
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- Ares Capital Corporation (Q2 FY26)
Ares Capital Corporation Q2 FY26 quarterly results analysis. The software portfolio companies maintain a consistent EBITDA growth rate of approximately 9% year-
Potential multibaggers · Q2 FY27
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on management's own guidance
- Nippon Life Ind.Good growth2
- BSEGood growth1
- Motil.Oswal.Fin.Good growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were State Street Corporation Q2 FY26 results?
- Fee revenue growth is expected in the 7% to 9% range for 2026, up from the previous 4% to 6% outlook, driven by strong Q1 performance and continued organic growth. - Expecting continued strong earnings growth, with Q1 marking the ninth consecutive quarter of year-over-year positive operating leverage (excluding notable items).
What is State Street Corporation share price analysis?
State Street Corporation currently shows a below-average growth signal. The stock trades at a P/E of 16.1 with a market cap of $43,621. Investors should review the full earnings analysis for detailed insights.
Is State Street Corporation planning capital expenditure?
- Ongoing investments in technology modernization and transformation, including embedding agile ways of working and solidifying a product platform approach.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.