Northern Trust's stock soared 5.06% during intraday trading on Tuesday, following the release of its first-quarter 2026 financial results.

The asset and wealth manager reported Q1 earnings per share of $2.71, surpassing the consensus analyst estimate of $2.33. Revenue for the quarter reached $2.21 billion, also beating expectations of approximately $2.13 billion. Net income climbed 34% year-over-year to $525.5 million.

The strong results were driven by elevated client activity across businesses, favorable market conditions that boosted assets under custody and fee income, and disciplined expense management. Assets under custody and administration rose 10% to $18.55 trillion, while net interest income surged 15% to $662 million.