Columbia Banking System Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Columbia Banking System (COLB) revealed a profit for third quarter that Decreased from last year but beat the Street estimates.

The company's earnings came in at $96 million, or $0.40 per share. This compares with $146 million, or $0.70 per share, last year.

Excluding items, Columbia Banking System reported adjusted earnings of $0.85 per share for the period.

Analysts on average had expected the company to earn $0.69 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 17.4% to $505 million from $430 million last year.

Columbia Banking System earnings at a glance (GAAP) :

-Earnings: $96 Mln. vs. $146 Mln. last year. -EPS: $0.40 vs. $0.70 last year. -Revenue: $505 Mln vs. $430 Mln last year.