Boston company earnings for the third quarter of 2026 are half in. Three of the city’s largest headquartered public companies, State Street, American Tower and BXP, reported between Oct. 14 and Oct. 27, each posting year-over-year growth in its main profit measure. Vertex Pharmaceuticals, Toast, Wayfair, Rapid7 and DraftKings report between Nov. 2 and Nov. 5.
This scorecard covers companies whose headquarters are in the city of Boston. A shorter Greater Boston section follows. All figures come from the companies’ own releases unless otherwise noted.
State Street: Revenue up 13%, EPS up 33%
State Street, based at One Congress Street, reported on Oct. 14 that third-quarter total revenue rose 13% to $4.004 billion from $3.545 billion a year earlier, according to the earnings release filed with the SEC. Net income rose 27% to $1.09 billion, and diluted earnings per share climbed 33% to $3.69 from $2.78. The bank reported no notable items in the quarter.
Fee revenue rose 11% to $3.14 billion, led by a 20% jump in management fees and a 17% rise in foreign exchange trading. Net interest income rose 21% to $864 million as net interest margin widened 16 basis points to 1.12%. Assets under custody and administration reached $59.2 trillion, and assets under management reached $6.3 trillion.
“We generated record quarterly Servicing and Management fees as well as record FX client volumes,” Chairman and CEO Ron O’Hanley said in the release.
Wall Street focused on the top line. Investing.com reported that EPS edged past the analyst consensus of $3.67, but revenue fell short of the $4.04 billion estimate, and that the shares fell in premarket trading.
American Tower: Outlook raised for the third time this year
American Tower reported on Oct. 27 that total revenue rose 2.5% to $2.785 billion, according to the company’s release. Property revenue rose 4.5% to $2.734 billion, helped by 16.3% cash revenue growth in its CoreSite data centers.
GAAP results went the other way. Net income attributable to common stockholders fell 10.3% to $766 million, or $1.64 per diluted share, down 9.9%. The company cited unrealized losses of about $71.5 million on equity investments. Adjusted funds from operations (AFFO), the measure tower REITs emphasize, rose 2.4% to $1.335 billion, or $2.87 per share, up 3.2%.
The company kept the midpoint of its full-year AFFO outlook at $5.148 billion to $5.203 billion and raised AFFO per share by 2 cents. The board also authorized another $2 billion in buybacks. CEO Steve Vondran said the momentum “enabled us to raise our full-year outlook for the third time this year.”
According to The Fly via TipRanks, AFFO per share topped the $2.84 consensus. Even so, the shares closed down about 2.4% at $183.83 that day, according to MarketWatch market data.
BXP: Back to a profit as occupancy rises
Office landlord BXP reported on Oct. 27 that revenue rose 4.6% to $911.4 million, according to its release. Net income attributable to BXP was $114.5 million, or 71 cents per diluted share, compared with a loss of $121.7 million, or 77 cents per share, a year earlier. Funds from operations rose to $1.89 per share from $1.74.
BXP said EPS beat the midpoint of its own guidance by 20 cents, mainly on gains from property sales, and FFO beat it by 8 cents. It raised full-year 2026 guidance to $2.35 to $2.37 for EPS and $7.06 to $7.08 for FFO per share. Total portfolio occupancy rose 100 basis points from the second quarter to 89.4%, the fourth straight quarterly gain. Read our full BXP earnings story.
Still to come: Vertex, Toast, Wayfair, Rapid7 and DraftKings
- Vertex Pharmaceuticals (Fan Pier, Seaport): reports Monday, Nov. 2, after the close, with a call at 4:30 p.m. ET, according to Vertex. It will be the first quarter to include Crinetics Pharmaceuticals, an acquisition Vertex completed on Sept. 1.
- Toast: reports Tuesday, Nov. 3, after the close, with a call at 5 p.m. ET, according to Toast.
- Wayfair: reports Wednesday, Nov. 4, before the open, with a call at 8 a.m. ET, according to Wayfair.
- Rapid7: reports Wednesday, Nov. 4, after the close, with a call at 4:30 p.m. ET, according to Rapid7.
- DraftKings: reports Thursday, Nov. 5, after the close, with a call on Friday, Nov. 6, at 8:30 a.m. ET, according to DraftKings.
Greater Boston: Thermo Fisher raises, Boston Scientific cuts
Two of the region’s largest suburban companies reported results that moved in opposite directions.
Waltham-based Thermo Fisher Scientific reported on Oct. 21 that revenue rose 9% to $12.14 billion, with 6% organic growth, according to the company. GAAP diluted EPS rose 9% to $4.64, and adjusted EPS rose 15% to $6.68. It raised its 2026 outlook to $47.7 billion to $48.2 billion in revenue and $25.13 to $25.43 in adjusted EPS. Reuters reported that both revenue and adjusted profit beat estimates.
Marlborough-based Boston Scientific reported on Oct. 28 that net sales rose 1.5% to $5.138 billion, while adjusted EPS fell 3% to 73 cents, according to the company. It now projects full-year adjusted EPS of $3.16 to $3.18. MedTech Dive reported that this was the third guidance cut of the year. See our full Boston Scientific report.
What to watch
The Boston names that have reported so far are mostly capital-markets and real estate businesses, and all three raised at least part of their outlooks. The next two weeks shift the scorecard toward biotech, consumer and software companies, starting with Vertex on Nov. 2. For the wider market backdrop, see our Oct. 27 Business Report.
Sources
- State Street Q3 2026 earnings release (SEC Exhibit 99.1)
- Investing.com: State Street shares fall on revenue miss
- American Tower Q3 2026 results
- The Fly/TipRanks: American Tower AFFO vs. consensus
- MarketWatch: AMT stock Oct. 27
- BXP Q3 2026 results
- Vertex Q3 date
- Toast Q3 date
- Wayfair Q3 date
- Rapid7 Q3 date
- DraftKings Q3 date
- Thermo Fisher Q3 2026 results
- Boston Scientific Q3 2026 results
- MedTech Dive: Boston Scientific guidance cut
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