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

Don't have an account? Register for Free Unlimited Access