East West Bancorp: 2Q Earnings Snapshot
PASADENA, Calif. (AP) _ East West Bancorp Inc. (EWBC) on Thursday reported second-quarter net income of $150.4 million.
The bank, based in Pasadena, California, said it had earnings of $1.03 per share. Earnings, adjusted for pretax expenses, came to $1.24 per share.
The results matched Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of $1.24 per share.
The bank holding company posted revenue of $527.6 million in the period. Its revenue net of interest expense was $420.1 million, topping Street forecasts. Six analysts surveyed by Zacks expected $416.4 million.
East West Bancorp shares have increased 3% since the beginning of the year. The stock has dropped 31% 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