New York Community Bancorp Inc. Q1 Profit Increases, Inline With Estimates

(RTTNews) - New York Community Bancorp Inc. (NYCB) revealed a profit for its first quarter that increased from last year in line with the Street estimates.

The company's bottom line came in at $2.00 billion, or $2.87 per share. This compares with $147 million, or $0.31 per share, in last year's first quarter.

Excluding items, New York Community Bancorp Inc. reported adjusted earnings of $159 million or $0.23 per share for the period.

Analysts on average had expected the company to earn $0.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 665.9% to $2.65 billion from $346 million last year.

New York Community Bancorp Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $2.00 Bln. vs. $147 Mln. last year. -EPS (Q1): $2.87 vs. $0.31 last year. -Analyst Estimate: $0.23 -Revenue (Q1): $2.65 Bln vs. $346 Mln last year.