State Street Corp. said Monday its third-quarter profit increased to $714 million, or $1.96 a share, from $555 million, or $1.45 a share, in the year-ago period. Excluding items, profit in the latest period totaled $2 a share. Revenue rose to $2.99 billion from $2.78 billion. Analysts expected the financial services firm to earn $1.89 a share, with non-GAAP income of $1.92 a share and revenue of $2.96 billion. State Street said it plans to resume its share repurchase program in the second quarter of 2022. It suspended the effort in September and raised $1.9 billion of capital through a common stock issuance to finance its $3.5 billion acquisition of BBH Investor Services. Shares of State Street are up 27.4% this year, compared to a rise of 19% by the S&P 500.
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