Webster Financial Corp. Q3 Profit Decreases, Misses Estimates

(RTTNews) - Webster Financial Corp. (WBS) reported a profit for third quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $188.823 million, or $1.10 per share. This compares with $222.313 million, or $1.28 per share, in last year's third quarter.

Excluding items, Webster Financial Corp. reported adjusted earnings of $229.8 million or $1.34 per share for the period.

Analysts on average had expected the company to earn $1.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.4% to $647.6 million from $677.5 million last year.

Webster Financial Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $188.823 Mln. vs. $222.313 Mln. last year. -EPS (Q3): $1.10 vs. $1.28 last year. -Revenue (Q3): $647.6 Mln vs. $677.5 Mln last year.