- Adjusted earnings per share reached a record $1.31, up 70% versus Q3 2024.
- Adjusted pretax margins exceeded 51%, reflecting strong expense management and revenue growth.
- Client margin balances hit a record $97.2 billion, up 16% from year-end 2024.
- Net interest revenue increased 37% year-over-year, driven by loan growth and securities lending.
- Pledged Asset Line (PAL) balances grew 37% year-over-year to $23.4 billion.
- Returned $2.7 billion in common stock repurchases during the quarter, totaling $8.5 billion year-to-date.
- Supplemental borrowings reduced by $13 billion in Q3, now at $14.8 billion, 85% below May 2023 peak.
- Third quarter revenue grew 27% year-over-year to a record $6.1 billion.
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- The firm is actively developing and launching Bitcoin and Ethereum spot trading, expecting these to be significant growth drivers.
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- Management highlights their commitment to innovation while maintaining trust and transparency, positioning themselves as a trusted leader in digital assets.
- Adjusted operating margin expanded to 39.6% in Q2, up 120 basis points from prior year.
- Financial Solutions segment grew 7% organically in Q2, led by issuing and digital payments growth.
- Fiserv delivered 8% adjusted and organic revenue growth in Q2 2025, with 16% adjusted EPS growth year-over-year.
- Free cash flow was $1.2 billion in Q2 and $1.5 billion for the first half of 2025, with an expected full year of approximately $5.5 billion.
- Merchant Solutions operating margin declined 200 basis points to 34.6% due to investments and acquisitions, while Financial Solutions margin expanded to 48.7%.
- Merchant Solutions segment grew 9% organically in Q2, with 10% adjusted revenue growth, driven by Clover and Commerce Hub.
- Share repurchases totaled $2.2 billion in Q2, with guidance increased to approximately 130% of free cash flow for 2025.
- Allowance for loan losses increased to 85 basis points of funded loans, reflecting portfolio mix changes and overlays.
- Efficiency ratio improved nearly 3% to 57.4%, with adjusted efficiency ratio excluding ECR deposit costs dropping below 50%.
- EPS was $2.28 with return on average assets at 1.13% and return on average tangible common equity at 15.6%.
- Net charge-offs were 22 basis points, and total criticized assets declined 17%, reflecting stable asset quality.
- Net interest income grew 30% linked quarter annualized to $750 million, supported by $6.1 billion in deposit growth and stable net interest margin of 3.53%.
- Non-interest income increased 27% quarter over quarter to $188 million, driven by mortgage banking revenue growth.
- Western Alliance reported record net revenue of $938 million and pre-provision net revenue of $394 million in Q3 2025.
- Average loans increased by an annualized 2.1% and customer deposits by 3.1% sequentially.
- Common Equity Tier 1 ratio stood at 11.3%, with tangible book value per share growing 17% year-over-year.
- Customer fees, excluding net credit valuation adjustment, grew by $10 million sequentially, with adjusted expenses declining by $1 million.
- Diluted earnings per share was $1.48, down from $1.63 in the prior quarter but up from $1.37 a year ago, impacted by credit valuation adjustments and elevated credit provisions.
- Efficiency ratio improved to 59.6%, reflecting positive operating leverage as revenue growth outpaced expense growth.
- Net charge-offs totaled $56 million or 37 basis points annualized, largely driven by a $50 million charge-off related to two specific C&I loans.
- Net interest margin expanded by 11 basis points sequentially to 3.28%, marking the seventh consecutive quarter of margin improvement.
- Provision for credit losses was $49 million, reducing allowance for credit losses by $7 million relative to prior quarter.
- Adjusted diluted earnings per share was $0.36 for the quarter.
- Adjusted operating income increased 3% year-over-year with operating margins expanding by 30 basis points to 31.2%.
- Invesco ended Q2 2025 with a record $2 trillion in assets under management (AUM), up 8% from Q1 and 17% from Q2 2024.
- Leverage ratios improved year-over-year, with leverage including preferred stock declining to 2.7x from 3.0x.
- Net long-term asset inflows were $15.6 billion for the quarter, representing a 4.7% annualized organic growth rate.
- Net revenues increased by $19 million compared to the prior year quarter, driven by higher average AUM and FX impact.
- Net revenue yield was 23.2 basis points, showing signs of stabilization after prior declines.
- Operating expenses were well controlled, increasing only 1% year-over-year, flat when adjusted for FX.
- The firm repurchased $1 billion of preferred stock held by MassMutual, funded by bank term loans, strengthening the balance sheet.
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