UPDATE: State Street Reports Jump In Q4 Net Income

State Street Corp (NYSE: STT) reported a strong rise in its fourth-quarter net income.

State Street's quarterly net income climbed to $371 million, or $0.76 per share, from $81 million, or $0.16 per share, in the year-ago period. Its adjusted earnings came in at $0.93 per share. Its revenue surged to $2.32 billion from $2.04 billion. However, analysts were expecting of $0.94 per share on revenue of $2.41 billion.

STT shares dropped 0.44% to close at $42.75 yesterday.