State Street up after higher AUM, Q2 revenue beat
** Shares of custodian bank State Street STT.N up 2.9% at $81.29
** STT reports a rise in client assets under management, which helped the custodian bank rake in more fees from the service
** Q2 fee revenue came in at $2.46 billion, up from $2.42 billion in the year-ago period, which helped the custodian record a revenue growth of 3%
** State Street's quarterly revenue was $3.19 billion, beating analysts' estimates of $3.15 billion - LSEG
** Assets under management (AUM) climbed 16% to $4.42 trillion, and assets under custody and/or administration (AUC/A)rose to record $44.31 trillion from $39.59 trillion last year
** The bank's profit in the quarter, however, fell 7% to $711 million or $2.15 per share, hurt by higher expenses
** Including sessions move, STT up ~4% YTD
Reporting by Pritam Biswas in Bengaluru
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