East West Bancorp Q1 adjusted earnings Miss Estimates

(RTTNews) - East West Bancorp (EWBC) revealed a profit for first quarter that dropped from the same period last year.

The company's bottom line totaled $164.0 million, or $1.12 per share. This compares with $187.0 million, or $1.28 per share, in last year's first quarter.

Excluding items, East West Bancorp reported adjusted earnings of $168.9 million or $1.16 per share for the period.

Analysts had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.9% to $362.46 million from $326.69 million last year.

East West Bancorp earnings at a glance:

-Earnings (Q1): $168.9 Mln. vs. $164.9 Mln. last year. -EPS (Q1): $1.16 vs. $1.13 last year. -Analysts Estimate: $1.22 -Revenue (Q1): $362.46 Mln vs. $326.69 Mln last year.