Webster Financial: Q2 Earnings Snapshot
STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Webster Financial Corp. (WBS) on Thursday reported second-quarter net income of $235 million.
The bank, based in Stamford, Connecticut, said it had earnings of $1.32 per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.50 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.47 per share.
The holding company for Webster Bank posted revenue of $1.02 billion in the period. Its revenue net of interest expense was $673.2 million, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $690.9 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
