Webster Financial: Q2 Earnings Snapshot

Associated Press Finance
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STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Webster Financial Corp. (WBS) on Tuesday reported second-quarter earnings of $181.6 million.

The Stamford, Connecticut-based bank said it had earnings of $1.03 per share. Earnings, adjusted for non-recurring costs, were $1.26 per share.

The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.

The holding company for Webster Bank posted revenue of $1.02 billion in the period. Its revenue net of interest expense was $614.6 million, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $671.9 million.

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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 WBS at https://www.zacks.com/ap/WBS