PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — East West Bancorp Inc. (EWBC) on Tuesday reported third-quarter net income of $368.4 million.
The bank, based in Pasadena, California, said it had earnings of $2.65 per share. Earnings, adjusted for non-recurring gains, were $2.62 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.35 per share.
The bank holding company posted revenue of $1.23 billion in the period. Its revenue net of interest expense was $778 million, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $723.8 million.
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