Webster Financial: Q2 Earnings Snapshot

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