Popular Q1 Earnings Up On Higher Net Interest Income; Stock Up In Pre-market

(RTTNews) - Popular, Inc. (BPOP), a full-service financial services provider, on Wednesday announced that net income increased in the first quarter compared with the last year, benefited by higher net interest income.

Shares of Popular are increasing around 4 percent in the pre-market trading on the Nasdaq.

For the first quarter, net income applicable to common stock increased to $177.15 million from $102.93 million last year.

Earnings per share were $2.56 versus $1.43 last year.

Five Analysts, on average, had expected the company to report a profit of $2.18 per share. Analysts' estimates typically exclude special items.

Total interest income climbed to $917 million from $894.14 million in the previous year.

Net interest income of $605.60 million grew from last year's $550.74 million.

Non-interest income, meanwhile, declined to $152.1 million from $163.82 million last year.

Loans increased to $666.67 million from $638.73 million in the previous year.

In the pre-market trading, Popular is 4.16% higher at $93.20 on the Nasdaq.