State Street on Friday reported fourth-quarter net income of $544 million.
The Boston-based bank said it had earnings of $1.24 per share. Earnings, adjusted for non-recurring costs, came to $1.37 per share.
The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The holding company for State Street Bank posted revenue of $2.63 billion in the period, which did not meet Street forecasts. Analysts expected $2.67 billion, according to Zacks.
For the year, the company reported profit of $2.09 billion, or $4.69 per share. Revenue was reported as $10.29 billion.
State Street shares have declined almost 2 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has increased nearly 3 percent in the last 12 months.