October 19, 2018 / 2:14 PM / a month ago

CORRECTED-State Street sees flat fourth-quarter servicing fees, shares fall

(Corrects to “flat” from “lower” in headline)

Oct 19 (Reuters) - Custodian bank State Street Corp said on Friday it expects fourth-quarter servicing fee revenue, its main earnings driver, to be flat from the third quarter, sending its shares down 7 percent.

Total expenses in the fourth quarter are expected to be slightly above third-quarter levels, State Street said on a post earnings conference call.

The company earlier in the day reported a lower-than-expected third-quarter profit, missing estimates for the first time in two years. (Reporting By Aparajita Saxena in Bengaluru)

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