Benzinga | Jul 23, 2020 08:27AM EDT

Recap: East West Bancorp Q2 Earnings

Shares of East West Bancorp (NASDAQ:EWBC) were unchanged after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 43.55% over the past year to $0.70, which missed the estimate of $0.78.

Revenue of $343,775,000 declined by 6.41% from the same period last year, which missed the estimate of $343,970,000.

Guidance

East West Bancorp hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

How To Listen To The Conference Call

Date: Jul 23, 2020

Time: 11:00 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/ewbc/mediaframe/38931/indexr.html

Technicals

52-week high: $51.88

52-week low: $22.55

Price action over last quarter: Up 16.43%

Company Description

East West Bancorp Inc is the holding company for East West Bank, a full-service commercial bank with cross-border operations concentrated in the United States and China. East West Bank is one of a few U.S.-based banks with a full banking license in China. The bank's cost strategy has increasingly focused on expanding its deposit base away from time deposits to commercial deposits. The bank has also taken part in entertainment partnerships between participants in China and Hollywood. Most of these efforts include financing the production and distribution of film and television projects. The bank leverages its cultural and regulatory knowledge in the U.S. and China to assist its customers entering new markets. Most of its earning assets are in loans held for investment.