Northwest Bancshares Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Northwest Bancshares Inc. (NWBI) announced a profit for its second quarter that Increased from last year and beat the Street estimates.

The company's earnings came in at $33.68 million, or $0.26 per share. This compares with $4.75 million, or $0.04 per share, last year.

Excluding items, Northwest Bancshares Inc. reported adjusted earnings of $38.17 million or $0.30 per share for the period.

Analysts on average had expected the company to earn $0.28 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 11.8% to $119.44 million from $106.84 million last year.

Northwest Bancshares Inc. earnings at a glance (GAAP) :

-Earnings: $33.68 Mln. vs. $4.75 Mln. last year. -EPS: $0.26 vs. $0.04 last year. -Revenue: $119.44 Mln vs. $106.84 Mln last year.