East West Bancorp Q2 Profit Decreases, But Beats Estimates

(RTTNews) - East West Bancorp (EWBC) released earnings for second quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $288.2 million, or $2.06 per share. This compares with $312.03 million, or $2.20 per share, in last year's second quarter.

Excluding items, East West Bancorp reported adjusted earnings of $289.5 million or $2.07 per share for the period.

Analysts on average had expected the company to earn $1.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.2% to $637.9 million from $645.4 million last year.

East West Bancorp earnings at a glance (GAAP) :

-Earnings (Q2): $288.2 Mln. vs. $312.03 Mln. last year. -EPS (Q2): $2.06 vs. $2.20 last year. -Revenue (Q2): $637.9 Mln vs. $645.4 Mln last year.