S&P 500 (NYSE:SPY) component KeyCorp (NYSE:KEY) reported net income above Wall Street’s expectations for the second quarter. KeyCorp is a financial holding company that offers its clients retail and commercial banking, commercial leasing, investment management, consumer finance and investment banking products and services.
Investing Insights: Is TV the Next Bullish Catalyst for Apple’s Stock?
KeyCorp Earnings Cheat Sheet
Results: Net income for KeyCorp rose to $236 million (24 cents per share) vs. $200 million (25 cents per share) in the same quarter a year earlier. This marks a rise of 18% from the year-earlier quarter.
Revenue: Rose 0.5% to $1.03 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: KeyCorp beat the mean analyst estimate of 18 cents per share. It beat the average revenue estimate of $997.5 million.
The company has now surpassed analyst estimates for four quarters in a row. It beat the mark by 2 cents in the first quarter, by one cent in the fourth quarter of the last fiscal year, and by 3 cents in the third quarter of the last fiscal year.
Looking Forward: The average estimate for the third quarter remains unchanged at 19 cents a share. The average estimate for the fiscal year is now 77 cents per share, down from 78 cents sixty days ago.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Hot Additional Stories: