SunTrust Banks (STI) Tops Q2 EPS by 6c

SunTrust Banks (NYSE: STI) reported Q2 EPS of $0.94, $0.06 better than the analyst estimate of $0.88. Revenue for the quarter came in at $2.19 billion versus the consensus estimate of $2.14 billion.

Earnings per share increased 12% compared to the prior quarter and 6% compared to the second quarter of 2015. For the first half of 2016, earnings per share grew 7% compared to the same period a year ago.

"Our performance this quarter is further indication of our ability to deliver on our commitments," said William H. Rogers, Jr., chairman and CEO of SunTrust Banks, Inc. "The consistent execution of our core strategies, combined with the diversity of our business model, resulted in solid revenue growth, strong improvements in efficiency, and significantly higher capital return to shareholders. Despite the impact of the continued low interest rate environment, we remain committed to helping our clients and communities improve their financial confidence, thereby helping our shareholders continue to outperform."

For earnings history and earnings-related data on SunTrust Banks (STI) click here.

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