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East West Bancorp: 1Q Earnings Snapshot

Associated Press
Updated ·1-min read

PASADENA, Calif. (AP) _ East West Bancorp Inc. (EWBC) on Thursday reported first-quarter net income of $144.8 million.

The bank, based in Pasadena, California, said it had earnings of $1 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.

The bank holding company posted revenue of $503.2 million in the period. Its revenue net of interest expense was $416.8 million, also exceeding Street forecasts.

East West Bancorp shares have fallen 45% since the beginning of the year. The stock has dropped 46% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EWBC at https://www.zacks.com/ap/EWBC