Synovus Financial Q1 Profit Increases, Beats Estimates

(RTTNews) - Synovus Financial (SNV) revealed a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $163.69 million, or $1.30 per share. This compares with $114.82 million, or $0.78 per share, last year.

Excluding items, Synovus Financial reported adjusted earnings of $184.38 million or $1.30 per share for the period.

Analysts on average had expected the company to earn $1.12 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 6.2% to $570.850 million from $537.734 million last year.

Synovus Financial earnings at a glance (GAAP) :

-Earnings: $163.69 Mln. vs. $114.82 Mln. last year. -EPS: $1.30 vs. $0.78 last year. -Revenue: $570.850 Mln vs. $537.734 Mln last year.