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Webster Financial: Q2 Earnings Snapshot
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STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Webster Financial Corp. (WBS) on Tuesday reported second-quarter profit of $256.8 million.

The bank, based in Stamford, Connecticut, said it had earnings of $1.56 per share. Earnings, adjusted for non-recurring costs, came to $1.60 per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.

The holding company for Webster Bank posted revenue of $1.12 billion in the period. Its revenue net of interest expense was $740 million, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $749.3 million.

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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 WBS at https://www.zacks.com/ap/WBS

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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