FX.co ★ Webster Financial Corp. Q4 Profit Decreases, But Beats Estimates

Webster Financial Corp. (WBS) announced its fourth-quarter earnings, which, although lower than the previous year, surpassed Wall Street expectations.

The firm reported a net income of $173.60 million, translating to $1.01 per share, compared to $181.23 million, or $1.05 per share, in the same quarter last year.

On an adjusted basis, excluding specific items, Webster Financial Corp. achieved earnings of $181.25 million, or $1.43 per share, for the quarter.

Analysts had, on average, projected earnings of $1.35 per share, as per data from Thomson Reuters, which generally excludes special items from their calculations.

Summary of Webster Financial Corp.'s (GAAP) earnings for Q4:

- Earnings: $173.60 million, compared to $181.23 million in the prior year.

- Earnings Per Share (EPS): $1.01, compared to $1.05 in the prior year.