Columbia Banking System Q2 Profit Increases, Beats Estimates

(RTTNews) - Columbia Banking System (COLB) reported a profit for its second quarter that Increased from last year and beat the Street estimates.

The company's bottom line came in at $152.42 million, or $0.73 per share. This compares with $120.14 million, or $0.57 per share, last year.

Excluding items, Columbia Banking System reported adjusted earnings of $0.76 per share for the period.

Analysts on average had expected the company to earn $0.66 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 4.4% to $446.45 million from $427.45 million last year.

Columbia Banking System earnings at a glance (GAAP) :

-Earnings: $152.42 Mln. vs. $120.14 Mln. last year. -EPS: $0.73 vs. $0.57 last year. -Revenue: $446.45 Mln vs. $427.45 Mln last year.