- Adjusted noninterest expense increased 4% year-over-year but decreased 4% sequentially, excluding deferred compensation mark-to-market.
- Adjusted pre-provision net revenue (PPNR) increased 10%, with 250 basis points of positive operating leverage for the third consecutive quarter.
- Adjusted return on assets was 1.2%, adjusted return on tangible common equity was 18%, and efficiency ratio was 55.5%.
- Adjusted revenues grew 6% year-over-year, led by 7% growth in net interest income (NII).
- Average loan growth was 5% year-over-year across diversified platforms despite industry headwinds.
- Common Equity Tier 1 (CET1) ratio was 10.6%, up 13 basis points, with pro forma including AOCI at 8.6%, up 60 basis points year-over-year.
- Net charge-offs were 45 basis points, at the bottom of guidance and improved year-over-year.
- Net interest margin expanded 9 basis points sequentially, with NII growing 7% year-over-year and 4% sequentially.
- Noninterest income increased 8% year-over-year, adjusted noninterest income up 3%, led by wealth fees and consumer banking fees growth.
- Nonperforming assets (NPAs) declined 11% sequentially, led by an 18% decline in commercial NPAs.
- Provision expense included a $34 million build in allowance for credit losses due to macroeconomic scenario deterioration.
- Reported earnings per share of $0.88, or $0.90 excluding certain items, exceeding consensus estimates.
- Tangible book value per share increased 18% year-over-year and 5% sequentially.
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- American Tower reported strong second quarter 2025 results with consolidated property revenue growth of 1.2% year-over-year, or more than 3% excluding noncash straight-line revenue.
- Attributable AFFO and AFFO per share declined approximately 6.7% and 6.8%, respectively, primarily due to prior year revenue reserve reversals in India.
- Cash adjusted EBITDA margin declined 40 basis points, partially due to higher contribution from U.S. services business.
- CoreSite data center business posted over 13% property revenue growth with double-digit revenue growth and gross margin expansion.
- On an as-adjusted basis normalizing for India sale, AFFO per share grew approximately 2.4%.
- Organic tenant billings growth was 4.7% consolidated, driven by solid demand across global portfolio, with U.S. and Canada at 3.7% and International at 6.5%.
- Adjusted net investment income hit a record $1.8 billion, up 8.3%, supported by a fixed income portfolio yield of 5.1%.
- Core operating income reached a record $3 billion, up 29% year-over-year, driving EPS growth of 31% to $7.49 per share.
- Life Insurance premiums grew over 24.5%, with the Life division producing $324 million pretax income, up over 14%.
- Operating cash flow was strong at $4.5 billion, contributing to a nearly 10% growth in invested assets over 12 months.
- Pretax catastrophe losses were $285 million for the quarter, higher than prior year but still manageable.
- Published underwriting income was $2.3 billion, a 55% increase from the prior year, with a record combined ratio of 81.8%.
- Tangible book value per share grew 17% year-over-year and 6.6% sequentially, with an annualized core operating return on tangible equity of 24.5%.
- Total company premiums grew 7.5%, with consumer premiums up nearly 16% and commercial premiums up 3.3%.
- Capital ratios remain strong with tangible common equity (TCE) at 10.01% and common equity Tier 1 ratio at 14.08%.
- Deposits declined by $387 million due to seasonal public fund activity; interest-bearing deposits decreased by $269 million.
- Efficiency ratio improved to 54.1% from 54.91% last quarter, and year-to-date efficiency ratio is nearly 100 basis points better than last year.
- Fee income grew 8% quarter-over-quarter to $106 million, driven by record insurance and annuity fees.
- Loans grew $135 million or 2% annualized, with strong loan production up 6% quarter-over-quarter and 46% year-over-year.
- Net interest income (NII) increased by $3 million or 1% quarter-over-quarter, with a stable net interest margin (NIM) at 3.49%.
- Non-accrual loans increased modestly to $114 million; net charge-offs decreased to 19 basis points.
- Return on Assets (ROA) improved to 1.46% from 1.32% a year ago, reflecting profitability improvement.
- Adjusted earnings per share for Q2 2025 was $1.14, a 56% increase over Q2 2024.
- Adjusted expenses increased 5% year-over-year due to investments in growth and efficiency initiatives.
- Bank lending balances increased 19% year-over-year, with pledged asset line balances reaching a record $21 billion.
- Capital return included $5.3 billion through dividends, preferred stock redemption, and stock repurchases totaling $1.85 billion year-to-date.
- Client trading volumes increased 38% year-over-year to 7.6 million daily average trades in Q2.
- Core net new assets reached $218 billion in the first half of 2025, up 39% year-over-year.
- High-cost bank borrowings were reduced by over 70% from peak to $27.7 billion as of June 30, 2025.
- Net interest revenue increased 31% year-over-year driven by reduction in high-cost borrowings and increased securities lending.
- Second quarter revenue was $5.9 billion, a 25% increase year-over-year.
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