SVB Financial Group Q2 Profit Drops, misses estimates

SVB Financial Group (SIVB) released earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $333 million, or $5.60 per share. This compares with $502 million, or $9.09 per share, in last year's second quarter.

Analysts on average had expected the company to earn $7.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

SVB Financial Group earnings at a glance (GAAP) :

-Earnings (Q2): $333 Mln. vs. $502 Mln. last year.
-EPS (Q2): $5.60 vs. $9.09 last year.
-Analyst Estimates: $7.66

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