Cathay: Q1 Earnings Snapshot

LOS ANGELES (AP) — LOS ANGELES (AP) — Cathay General Bancorp (CATY) on Thursday reported first-quarter profit of $96 million.

The Los Angeles-based bank said it had earnings of $1.32 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.

The holding company for Cathay Bank posted revenue of $299.6 million in the period. Its revenue net of interest expense was $206.7 million, meeting Street forecasts.

Cathay shares have declined 18% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $33.38, a decrease of 25% 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 CATY at https://www.zacks.com/ap/CATY