Western Alliance: Q1 Earnings Snapshot

PHOENIX (AP) — PHOENIX (AP) — Western Alliance Bancorp (WAL) on Tuesday reported first-quarter net income of $142.2 million.

The bank, based in Phoenix, said it had earnings of $1.28 per share. Earnings, adjusted for one-time gains and costs, were $2.30 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.05 per share.

The bank holding company posted revenue of $910.9 million in the period. Its revenue net of interest expense was $560.7 million, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $648.4 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WAL at https://www.zacks.com/ap/WAL