East West Bancorp: Q4 Earnings Snapshot
PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — East West Bancorp Inc. (EWBC) on Tuesday reported fourth-quarter net income of $239 million.
The Pasadena, California-based bank said it had earnings of $1.69 per share. Earnings, adjusted for non-recurring costs, were $2.02 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.
The bank holding company posted revenue of $1.07 billion in the period. Its revenue net of interest expense was $654.7 million, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $642.6 million.
For the year, the company reported profit of $1.16 billion, or $8.18 per share. Revenue was reported as $2.61 billion.
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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
