UPDATE: BB&T Q4 Net Income Surges 88%

BB&T Corp

reported an 88% jump in its fourth-quarter earnings. BB&T's quarterly net income surged to $391 million, or $0.55 per share, from $208 million, or $0.30 per share, in the year-ago quarter. Its revenue gained 3.4% to $2.4 billion. However, analysts were expecting earnings of $0.53 per share on revenue of $2.18 billion. The net interest margin narrowed 0.02 percentage point to 4.02%. BB&T shares closed at $27.44 yesterday.