Northern Trust Posts Strong Q2 Results, Boosts Dividend

Northern Trust Corporation reported strong second-quarter results, with net income reaching $792.2 million and diluted earnings per share of $4.23.

Total revenue on a fully taxable equivalent basis rose 22% sequentially and 35% year-on-year, driven by robust fee growth, strong capital markets activity, double-digit net interest income growth, and a substantial gain from the company's participation in Visa's second exchange offer.

The company's Chairman and CEO Michael O'Grady highlighted disciplined execution of the One Northern Trust strategy, noting eight consecutive quarters of positive organic trust-fee growth, more than 700 basis points of operating leverage for the second straight quarter, and growth in assets under custody/administration and wealth management.