What drove STT's EPS growth in 2024?

State Street's (STT) EPS grew from $7.95 to $8.21 between Q1 and Q4 2024, primarily driven by **Revenue Growth** and **Efficient Cost Management**:

1. **Revenue Growth**: State Street's total revenue increased, particularly in their core business segments. For instance, in Q3 2024, total revenue reached $3,259 million, up 21% from the previous year, surpassing the analyst estimate of $3,192 million. This growth in revenue was driven by higher management fees and asset growth, which directly contributed to the increase in EPS.
2. **Efficient Cost Management**: The company's net interest income decreased by 7% year-over-year, but State Street managed to maintain profitability by optimizing its cost structure. This efficient cost management allowed the company to retain more of its revenues as profit, thereby boosting EPS.

In summary, State Street's EPS growth in 2024 was primarily driven by revenue growth and efficient cost management. These factors, combined with strategic initiatives and a focus on innovation, have positioned the company for continued growth and profitability.