SVB: 3Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ SVB Financial Group (SIVB) on Thursday reported third-quarter earnings of $267.3 million.
The bank, based in Santa Clara, California, said it had earnings of $5.15 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $4.99 per share.
The financial services firm posted revenue of $877.9 million in the period. Its revenue net of interest expense was $814.7 million, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $788.1 million.
SVB shares have risen slightly more than 9% since the beginning of the year. The stock has decreased 19% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SIVB at https://www.zacks.com/ap/SIVB