Filing Flows › Keycorp (KEY) › Q2 2025
Keycorp (KEY) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
Keycorp (KEY) reported revenue of $1.8B for the second quarter 2025 (Q2 2025), +21% from a year earlier and +4% from the quarter before. Operating margin was 29.4%, net earnings $425M (23.1% of revenue).
Keycorp, Q2 2025: revenue $1.8B (+21% year over year), operating margin 29.4%, net earnings $425M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.8B | +4% | +21% |
| Operating profit | $541M | +5% | +61% |
| Net earnings | $425M | +5% | +55% |
| Operating cash flow | $1.2B | — | — |
| Free cash flow | $1.2B | — | — |
What changed
Revenue was $1.8B in Q2 2025, up 21% year over year and up 4% from the previous quarter. Trust and investment services income was the largest line at 7% of revenue. Investment banking and debt placement fees added $0.03B year over year (up 31%), 10% of the total change. Other noninterest income declined 33%.
Operating profit was $0.54B, a 29.4% margin (up 7.4 points year over year). Of the extra revenue versus a year earlier, 65% reached operating profit, above the 22% margin then. Total costs grew 9% against revenue growth of 21%. The fastest-growing cost line was Sales & marketing (+14%). Net earnings were $0.42B, up 55% year over year. The effective tax rate was 21.4%.
Operating cash flow was $1.2B, 290% of net earnings. Non-cash charges added back $0.01B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.77B. Capital expenditures of $0.02B left free cash flow of $1.2B.
Questions
What was Keycorp's revenue in the second quarter 2025?
Keycorp (KEY) reported revenue of $1.8B for the second quarter 2025 (Q2 2025), +21% from a year earlier and +4% from the quarter before.
Was Keycorp profitable in the second quarter 2025?
Operating profit was $541M (29.4% of revenue) and net earnings $425M.
Source: Keycorp 10-Q on SEC EDGAR.