FX.co ★ Webster Financial Corp. Q3 Profit Decreases, Misses Estimates

Webster Financial Corp. (WBS) has announced its financial results for the third quarter, revealing a decline in profit compared to the same period last year, and falling short of Wall Street expectations.

The company's net income stood at $188.823 million, or $1.10 per share, down from $222.313 million, or $1.28 per share, during the third quarter of the previous year.

When excluding certain items, Webster Financial's adjusted earnings for this quarter were $229.8 million, or $1.34 per share.

Market analysts, as surveyed by Thomson Reuters, had anticipated earnings of $1.35 per share, excluding any special items.

Additionally, the company's revenue for the quarter experienced a decline of 4.4%, dropping from $677.5 million last year to $647.6 million.

Here’s a brief overview of Webster Financial Corp.’s third-quarter results (GAAP):

- Earnings: $188.823 million this year, compared to $222.313 million last year.

- Earnings Per Share (EPS): $1.10 this year, versus $1.28 last year.

- Revenue: $647.6 million this year, down from $677.5 million last year.