SAN JUAN, Puerto Rico (AP) — SAN JUAN, Puerto Rico (AP) — First BanCorp. (FBP) on Wednesday reported first-quarter earnings of $88.8 million.
The San Juan, Puerto Rico-based bank said it had earnings of 57 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The holding company for FirstBank Puerto Rico posted revenue of $317.5 million in the period. Its revenue net of interest expense was $258.6 million, which did not meet Street forecasts.
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