State Street Corp. on Tuesday reported year-over-year decreases in revenue and profits, with executives saying a hiring freeze remained in effect and emphasizing their focus on finding cost savings.

The Boston-based company (NYSE: STT) has been hurt by a drop in client activity and weaker equity markets compared to early 2018, trends that have also beset its competitors. Its total revenue for the first quarter fell to $2.93 billion, down 4 percent from the same period last year.

Meanwhile, its…

Boston Biz Journal