Webster Financial Corp. Q2 Profit Increases, beats estimates

(RTTNews) - Webster Financial Corp. (WBS) released earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $230.806 million, or $1.32 per share. This compares with $178.148 million, or $1.00 per share, in last year's second quarter.

Excluding items, Webster Financial Corp. reported adjusted earnings of $260.7 million or $1.50 per share for the period.

Analysts on average had expected the company to earn $1.47 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.8% to $673.2 million from $607.6 million last year.

Webster Financial Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $230.806 Mln. vs. $178.148 Mln. last year. -EPS (Q2): $1.32 vs. $1.00 last year. -Analyst Estimate: $1.47 -Revenue (Q2): $673.2 Mln vs. $607.6 Mln last year.