Northern Trust (NTRS) Tops Q1 EPS by 6c

Northern Trust (NASDAQ: NTRS) reported Q1 EPS of $1.01, $0.06 better than the analyst estimate of $0.95. Revenue for the quarter came in at $1.19 billion versus the consensus estimate of $1.18 billion.

Trust, investment and other servicing fees were $748.2 million, up $20.7 million, or 3%, from $727.5 million in the prior-year quarter, primarily reflecting net new business and lower money market fee waivers, partially offset by the unfavorable impact of equity markets and movements in foreign exchange rates.

Assets under custody/administration (AUC/A) and assets under management are the primary drivers of the Corporation’s trust, investment and other servicing fees. Assets under custody/administration totaled $7.93 trillion at March 31, 2016.

For earnings history and earnings-related data on Northern Trust (NTRS) click here.

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