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Western Alliance: 2Q Earnings Snapshot

PHOENIX (AP) _ Western Alliance Bancorp (WAL) on Thursday reported second-quarter earnings of $122.9 million.

The bank, based in Phoenix, said it had earnings of $1.19 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.16 per share.

The bank holding company posted revenue of $317.1 million in the period. Its revenue net of interest expense was $268.9 million, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $270.4 million.

Western Alliance shares have risen 13% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $44.46, a drop of 24% 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 WAL at https://www.zacks.com/ap/WAL