COASTAL FINANCIAL CORP Q2 Profit Drops, Misses Estimates

(RTTNews) - COASTAL FINANCIAL CORP (CCB) announced earnings for second quarter that Drops, from the same period last year and missed the Street estimates.

The company's bottom line totaled $11.03 million, or $0.71 per share. This compares with $11.60 million, or $0.84 per share, last year.

Analysts on average had expected the company to earn $0.84 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 112.2% to $76.74 million from $36.17 million last year.

COASTAL FINANCIAL CORP earnings at a glance (GAAP) :

-Earnings: $11.03 Mln. vs. $11.60 Mln. last year. -EPS: $0.71 vs. $0.84 last year. -Revenue: $76.74 Mln vs. $36.17 Mln last year.