East West Bancorp Q1 Profit Decreases, but beats estimates

(RTTNews) - East West Bancorp (EWBC) announced a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $285.08 million, or $2.03 per share. This compares with $322.44 million, or $2.27 per share, in last year's first quarter.

Excluding items, East West Bancorp reported adjusted earnings of $292.33 million or $2.08 per share for the period.

Analysts on average had expected the company to earn $2.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.8% to $644.13 million from $669.84 million last year.

East West Bancorp earnings at a glance (GAAP) :

-Earnings (Q1): $285.08 Mln. vs. $322.44 Mln. last year. -EPS (Q1): $2.03 vs. $2.27 last year. -Revenue (Q1): $644.13 Mln vs. $669.84 Mln last year.