Regions Financial Q2 Profit Down; EPS Meets View, While Top Line Beats

(RTTNews) - Regions Financial Corp. (RF) reported Friday that its second-quarter net income available to common shareholders was $556 million, down from last year's $558 million. Earnings per share were $0.59, same as last year.

On average, 24 analysts polled by Thomson Reuters expected earnings of $0.59 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased 12 percent to $1.96 billion from prior year's $1.75 billion, driven by growth in net interest income. Analysts expected revenues of $1.95 billion.

Strong revenue growth contributed to a 6 percent increase in pre-tax pre-provision income on a reported basis and 7 percent on an adjusted basis.

Net interest income, taxable equivalent basis, climbed 24.5 percent from last year to $1.39 billion.

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