Shares of East West Bancorp EWBC rose 11.4% after the company reported Q1 results.
Earnings per share were down 13.79% year over year to $1.00, which beat the estimate of $0.95.
Revenue of $362,707,000 up by 0.07% from the same period last year, which beat the estimate of $361,660,000.
Earnings guidance hasn't been issued by the company for now.
Revenue guidance hasn't been issued by the company for now.
Conference Call Details
Date: Apr 23, 2020
Time: 06:01 AM ET
Recent Stock Performance
52-week high: $52.97
52-week low: $22.55
Price action over last quarter: down 39.83%
East West Bancorp Inc is the holding company for East West Bank, a full-service commercial bank with cross-border operations concentrated in the United States and China. East West Bank is one of a few U.S.-based banks with a full banking license in China. The bank's cost strategy has increasingly focused on expanding its deposit base away from time deposits to commercial deposits. The bank has also taken part in entertainment partnerships between participants in China and Hollywood. Most of these efforts include financing the production and distribution of film and television projects. The bank leverages its cultural and regulatory knowledge in the U.S. and China to assist its customers entering new markets. Most of its earning assets are in loans held for investment.
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