As earnings surged at larger custody banks, Northern Trust Corp. reported Tuesday that its earnings declined in the first quarter because of higher expenses and a difficult interest rate environment.
The Chicago-based company reported that profits declined 3% to $157.2 million, or 64 cents a share. Revenue rose 0.4% to $907.6 million. Analysts had expected earnings of 71 cents per share on revenue of $914 million.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access