Sunday, April 25, 2010

STT Q1 2010

--EPS $0.99, operating basis (GAAP) EPS $0.75, meeting expectation $0.75; Q4 2009 operating basis EPS $0.71
--Net Interest Revenue accounts for 25% of total revenue; Net Interest Revenue accounted for around 30% of total revenue in Q4 2009
--asset under management 1.9 tril, increasing only 0.9% from Q4 2009. Given the fact that the overall market has increased over 6%, net money outflow means that some clients are pulling out assets.
--trading revenue $242, 10% fewer than that at Q4 2009. lower volatility is one factor, but it is disappointment that the company's prop trading profits failed to make up for the lower agency fees like other Wall Street banks.

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