(Bloomberg) -- State Street Corp., the third- largest custody bank, said third-quarter profit fell 0.6% as revenue from foreign-exchange trading declined and low interest rates continued to depress earnings.

Net income on an operating basis declined to $473 million, or 99 cents a share, from $476 million, or 96 cents, a year earlier when there were more shares outstanding, the Boston- based company said today in a statement. Excluding certain items, 22 analysts surveyed by Bloomberg estimated earnings of 96 cents a share on average.

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