HATO REY, Puerto Rico (AP) — HATO REY, Puerto Rico (AP) — Popular Inc. (BPOP) on Tuesday reported fourth-quarter earnings of $233.9 million.
The Hato Rey, Puerto Rico-based bank said it had earnings of $3.53 per share. Earnings, adjusted for non-recurring gains, came to $3.38 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $3.02 per share.
The company that runs Banco Popular and other banks in Puerto Rico and the U.S. posted revenue of $1.12 billion in the period. Its revenue net of interest expense was $823.8 million, which also topped Street forecasts.
For the year, the company reported profit of $833.2 million, or $12.30 per share. Revenue was reported as $3.2 billion.
Popular shares have dropped slightly more than 1% since the beginning of the year. The stock has risen 21% 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 BPOP at https://www.zacks.com/ap/BPOP
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