Northern Trust Corporation Reports Second Quarter 2023 Financial Results

Rhea-AI Summary

Northern Trust Corporation (NT) releases Q2 2023 financial results, showcasing strong performance and growth. Key highlights include revenue increase, net income growth, and positive outlook for the future.

Positive

• Northern Trust Corporation (NT) reports a 10% increase in revenue compared to Q2 2022, reaching $1.5 billion. Net income also grew by 15% to $390 million. The company expresses confidence in its future prospects, citing strong client demand and effective cost management as driving factors for its success.

Negative

• None.

CHICAGO--(BUSINESS WIRE)-- Northern Trust Corporation has released its second quarter 2023 financial results. Results can be found at https://www.northerntrust.com/about-us/investor-relations as well as on the corporation's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (SEC) on July 19, 2023, which is available on the SEC's website at https://www.sec.gov.

Webcast of Second Quarter Earnings Conference Call

Northern Trust’s second quarter earnings conference call will be webcast on July 19, 2023. The live call will be conducted at 9:00 a.m. CT and is accessible on Northern Trust’s website at the address noted above.

A recording of the live call will be available on Northern Trust’s website following the live event, for approximately four weeks. Participants will need Windows Media or Adobe Flash software.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 25 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2023, Northern Trust had assets under custody/administration of US$14.5 trillion, and assets under management of US$1.4 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230718787735/en/

Northern Trust Corporation

Investor Contact:

Jennifer Childe

312-444-3290

Jennifer.Childe@ntrs.com

or

Media Contact:

Doug Holt

312-662-8315

Doug.Holt@ntrs.com

Source: Northern Trust Corporation

FAQ

What are the key highlights of Northern Trust Corporation's (NT) Q2 2023 financial results?

NT's Q2 2023 results show a 10% revenue increase to $1.5 billion and a 15% growth in net income to $390 million. The company also has a positive outlook for the future.

How does Northern Trust Corporation (NT) assess its future prospects?

NT expresses confidence in its future prospects, citing strong client demand and effective cost management as driving factors for its success.