PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — East West Bancorp Inc. (EWBC) on Thursday reported fourth-quarter profit of $356.3 million.
The Pasadena, California-based bank said it had earnings of $2.55 per share. Earnings, adjusted for non-recurring gains, were $2.52 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.48 per share.
The bank holding company posted revenue of $1.17 billion in the period. Its revenue net of interest expense was $758.3 million, which also beat Street forecasts. Five analysts surveyed by Zacks expected $748.4 million.
For the year, the company reported profit of $1.33 billion, or $9.52 per share. Revenue was reported as $2.93 billion.
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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 EWBC at https://www.zacks.com/ap/EWBC
