UPDATE: BB&T Q3 Profit Up 28%

BB&T

reported a 28% rise in its third-quarter earnings. BB&T's quarterly profit surged to $469 million, from $366 million, in the year-ago period. It per-share earnings rose to $0.66 from $0.52. Its total revenue climbed 16% to $2.48 billion. However, analysts were expecting a profit of $0.71 per share on revenue of $2.46 billion. BB&T's net interest margin declined to 3.94% from 4.09%. BB&T shares closed at $32.27 yesterday.