East West Bancorp Announces Rise In Q2 Profit, Beats estimates

(RTTNews) - East West Bancorp (EWBC) reported a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $312.03 million, or $2.20 per share. This compares with $258.33 million, or $1.81 per share, in last year's second quarter.

Analysts on average had expected the company to earn $2.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.1% to $645 million from $551 million last year.

East West Bancorp earnings at a glance (GAAP) :

-Earnings (Q2): $312.03 Mln. vs. $258.33 Mln. last year. -EPS (Q2): $2.20 vs. $1.81 last year. -Analyst Estimate: $2.14 -Revenue (Q2): $645 Mln vs. $551 Mln last year.