PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — East West Bancorp Inc. (EWBC) on Tuesday reported first-quarter earnings of $285.1 million.
The Pasadena, California-based bank said it had earnings of $2.03 per share. Earnings, adjusted for one-time gains and costs, were $2.08 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2 per share.
The bank holding company posted revenue of $1.1 billion in the period. Its revenue net of interest expense was $644.1 million, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $638.8 million.
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