PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — East West Bancorp Inc. (EWBC) on Tuesday reported first-quarter net income of $290.3 million.
The bank, based in Pasadena, California, said it had earnings of $2.08 per share. Earnings, adjusted for non-recurring costs, came to $2.09 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.05 per share.
The bank holding company posted revenue of $1.12 billion in the period. Its revenue net of interest expense was $692.3 million, which also topped Street forecasts. Four analysts surveyed by Zacks expected $671.3 million.
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