State Street Corp., the biggest U.S. provider of record-keeping and other services for institutional investors, said Wednesday that it expects first-quarter earnings growth to exceed analysts' estimates, because of gains from new computer conversions and foreign exchange.

Boston-based State Street, which has $667 billion of assets under management, said it expects first-quarter earnings-per-share growth to exceed the 16% posted in the first quarter of 1999, meaning that it is likely to report at least 86 cents a share. The analysts' consensus is 81 cents, according to First Call/Thomson Financial. The company reported 74 cents in the first quarter of 1999.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.