KeyCorp. Q2 Profit Increases - Quick Facts

(RTTNews) - KeyCorp. (KEY) reported that its second-quarter net income attributable to common shareholders increased to $214 million from the previous year's $198 million, with earnings per share improving to $0.24 from $0.22 last year.

Quarterly net income from continuing operations attributable to common shareholders of $242 million, or $0.27 per common share, compared to $193 million, or $0.21 per common share, for the second quarter of 2013.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue -Taxable Equivalent for the quarter was $1.034 billion compared to $1.015 billion last year. Wall Street analysts had a consensus revenue estimate of $1.02 billion for the quarter.

The company said it continues to execute on its commitment to return capital to its shareholders by repurchasing $108 million in common shares and increasing its dividend by 18%.

The company said that it entered into an agreement to acquire Pacific Crest Securities, technology-focused investment bank and capital markets firm. This transaction is subject to regulatory approval and is expected to close in the third quarter of 2014.