New York Community Bancorp Inc. Q2 Profit Increases, beats estimates

(RTTNews) - New York Community Bancorp Inc. (NYCB) reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $163 million, or $0.34 per share. This compares with $144 million, or $0.30 per share, in last year's second quarter.

Excluding items, New York Community Bancorp Inc. reported adjusted earnings of $166 million or $0.35 per share for the period.

Analysts on average had expected the company to earn $0.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.6% to $377 million from $347 million last year.

New York Community Bancorp Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $163 Mln. vs. $144 Mln. last year. -EPS (Q2): $0.34 vs. $0.30 last year. -Analyst Estimate: $0.32 -Revenue (Q2): $377 Mln vs. $347 Mln last year.