Popular Inc. Reports Solid Q4 Earnings
HATO REY, Puerto Rico (AP) - Popular Inc. (BPOP) announced a fourth-quarter profit of $177.5 million on Tuesday. The Hato Rey, Puerto Rico-based bank earned $2.51 per share.
Revenue for the quarter reached $1.08 billion, with net interest revenue at $755.5 million, surpassing analyst expectations.
For the full year, the company reported a net profit of $612.8 million ($8.56 per share) and revenue of $2.94 billion.
Popular's stock has outperformed the market, rising 10% year-to-date and 21% over the past 12 months.