RSS Westamerica Bancorp Q4 Profit Falls, But Beats Estimates

[Crax Bot]

Westamerica Bancorp (WABC) reported its fourth-quarter earnings, which, although lower than the previous year, surpassed market expectations.

The company posted net earnings of $31.70 million, or $1.19 per share, compared to $39.47 million, or $1.48 per share, reported in the fourth quarter of the previous year. Analysts, according to data from Thomson Reuters, had anticipated earnings of $1.18 per share, excluding special items.

Revenue for the quarter declined by 13.4%, falling to $69.88 million from $80.73 million the year prior.

A brief overview of Westamerica Bancorp's earnings based on Generally Accepted Accounting Principles (GAAP) is as follows:

- Fourth-quarter earnings amounted to $31.70 million, down from $39.47 million year-over-year.

- Earnings per share (EPS) for the fourth quarter decreased to $1.19 from $1.48 in the previous year.

- Fourth-quarter revenue dropped to $69.88 million compared to $80.73 million last year.

The material has been provided by InstaForex Company - www.instaforex.com

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