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Stock impact report

Northern Trust Beats Profit Growth Expectations in Q1 [The Motley Fool]

Northern Trust Corporation (NTRS) 
Last northern trust corporation earnings: 4/21 07:29 am Check Earnings Report
Company Research Source: The Motley Fool
Northern Trust(NASDAQ:NTRSNet income for the quarter was $60.6 billion, or $. per share, based on total revenue of $.6 billion, up 7% from the first quarter of 09.The bank made a credit provision of $6 million -- setting aside those funds in reserve to cover possible future loan losses -- after not taking a such a provision in either Q 09 or Q 09.Image Source: GettyHowever, Northern Trust largely escaped the quarter in good shape because unlike most traditional banks, which issue lots of loans, it makes most of its money on fees from investment management and investment servicing."Our results for the quarter reflected the momentum we carried coming into the year, with the quarter's performance only partially impacted by the pandemic," said Chairman and CEO Michael O'Grady in a statement. "Turbulent times such as these show the importance of a strong capital base and liquidity profile to continue to support the activities of our clients."Revenue from the bank's "trust, investment and o Show less Read more
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