{"id":160344,"date":"2022-07-14T13:03:40","date_gmt":"2022-07-14T13:03:40","guid":{"rendered":"https:\/\/precoinnews.com\/?p=160344"},"modified":"2022-07-14T13:03:40","modified_gmt":"2022-07-14T13:03:40","slug":"first-republic-bank-adds-5-in-pre-market-on-upbeat-quarterly-results","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/first-republic-bank-adds-5-in-pre-market-on-upbeat-quarterly-results\/","title":{"rendered":"First Republic Bank Adds 5% In Pre-market On Upbeat Quarterly Results"},"content":{"rendered":"
Shares of First Republic Bank (FRC) are up more than 5% in pre-market on Thursday after reporting better-than-expected second-quarter results.<\/p>\n
Net income in the second quarter increased to $392 million or $2.16 er share from $350 million or $1.95 per share a year ago.<\/p>\n
Revenue for the quarter increased 22.6% year-over-year to $1.5 billion.<\/p>\n
On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.09 per share on revenue of $1.47 billion for the quarter.<\/p>\n
Net interest income for the quarter grew 24.1% to$1.246 billion.<\/p>\n
FRC closed at $148.35, down 0.82% on Wednesday. It has traded in the range of $133.37 – $222.86 in the past 52 weeks. <\/p>\n