Yahoo Finance Cathay: Q2 Earnings Snapshot
LOS ANGELES (AP) — LOS ANGELES (AP) — Cathay General Bancorp (CATY) on Monday reported second-quarter profit of $66.8 million.
The Los Angeles-based bank said it had earnings of 92 cents per share. Earnings, adjusted for non-recurring costs, came to 97 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.
The holding company for Cathay Bank posted revenue of $346.1 million in the period. Its revenue net of interest expense was $178.5 million, missing Street forecasts.
Cathay shares have declined 3.5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $43.02, an increase of 20% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CATY at https://www.zacks.com/ap/CATY
