July 19, 2012 / 11:09 AM / in 5 years

KeyCorp profit beats estimates

(Reuters) - Midwestern bank KeyCorp (KEY.N) posted a lower quarterly profit but beat Wall Street estimates as credit quality continued to improve and it released money set aside to cover bad loans.

Net Income fell to $231 million, or 24 cents per share, down from $234 million, or 25 cents per share, a year earlier.

    The lender earned 23 cents per share from continuing operations.

    Analysts on average had expected KeyCorp to earn 18 cents per share, according to Thomson Reuters I/B/E/S.

    Shares of the company closed at $7.83 on Wednesday on the New York Stock Exchange.

    Reporting by Aman Shah in Bangalore; Editing by Supriya Kurane

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below