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State Street posts third-quarter earnings

State Street completed a key acquisition on Monday.

Bloomberg News/File

State Street completed a key acquisition on Monday.

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State Street Corp. said its third-quarter net income is $654 million, or $1.36 per share, vs. $543 million, or $1.10 per share, a year ago. The quarter includes a net after-tax benefit of 35 cents per share, largely from claims associated with the 2008 Lehman Brothers bankruptcy. The Boston-based financial services company also said it completed the acquisition of Goldman Sachs Administration Services on Monday, making it a leader in the hedge fund administration market.

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