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Synovus Financial Turns To Profit In Q1 Vs Loss Last Year - Quick Facts

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Synovus Financial Corp. (SNV: Quote) reported net profit available to common shareholders for the first quarter of 2012 of $21.40 million or $0.024 per share versus loss of $93.70 million or $0.119 loss per diluted share reported for the corresponding first quarter of 2011.

On average, 21 analysts polled by Thomson Reuters expected the company to report $0.01 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the first quarter of 2012 declined to $220.96 million from $237.43 million in the corresponding quarter last year.

Total non-interest income, however, increased to $84.14 million from $64.16 million a year ago. Analysts estimated revenues of $287.10 million.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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After ending the previous session mostly higher, stocks may see some further upside in early trading on Wednesday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 17 points. The Bank of Spain on Wednesday boosted its growth projections for Spain this year and the next after the economy grew at a faster rate in the second quarter. In its monthly economic bulletin, the bank raised the growth forecast for this year to 1.3 percent from the 1.2 percent seen previously. The projection for the next year was lifted to 2 percent from 1.7 percent. Bank of England policymakers unanimously decided to maintain the key interest rate and quantitative easing at the meeting held on July 9 and 10, but signaled the possibility of a rate hike late this year as growth became more established.
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