With an increase in profit, KeyCorp (KEY) beat analysts' expectations in the second quarter.
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Earnings and Revenue
The company experienced stronger-than-expected EPS and revenues. The company reported EPS of 24 cents a share versus the 18 cents a share estimate and revenues of $1.03 billion versus the $997.5 million estimate. The company's reported EPS came in above the high estimate of 24 analysts of a profit of 21 cents.
The company's net income for the quarter was $236 million. This is 18% higher than the year-ago quarter. Revenue climbed 0.5% from $1.18 billion in the same period last year.
History Against Expectations
The company has now topped analyst estimates for at least the last four quarters. It beat by 2 cents in the first quarter, one cent in the fourth quarter of the last fiscal year and 3 cents in the third quarter of the last fiscal year.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.