Synovus: 2Q Earnings Snapshot
COLUMBUS, Ga. (AP) _ Synovus Financial Corp. (SNV) on Tuesday reported second-quarter profit of $111.2 million.
The Columbus, Georgia-based bank said it had earnings of 91 cents per share. Earnings, adjusted for non-recurring costs, were 92 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The holding company for Synovus Bank posted revenue of $403.2 million in the period. Its revenue net of interest expense was $358 million, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $356.5 million.
Synovus shares have climbed 15 percent since the beginning of the year. The stock has increased 27 percent in the last 12 months.