KeyCorp (NYSE:KEY) earnings for first quarter of 2020 have KEY stock diving lower on Thursday. That comes after reporting earnings per share (EPS) of 12 cents, which misses Wall Street’s estimate of 18 cents. The financial services company’s revenue of $1.47 billion also comes in below analysts’ estimates of $1.56 billion.
Here are some additional highlights from the most recent KeyCorp earnings report.
- Per-share earnings are down 68.42% from 38 cents during the first quarter of 2019.
- Revenue for the quarter is sitting 3.29% lower than the $1.52 billion from the same time last year.
- The KeyCorp earnings report also includes a net income of $146 million.
- That’s a 64.3% decrease compared to the company’s net income of $407 million from the same period of the year prior.
Beth Mooney, Chairman and CEO of KeyCorp, said this about the KEY stock earnings report.
“Key’s results reflect the extraordinary events that have unfolded as a result of COVID-19 and the efforts to contain its spread. At Key, we stand with those we serve and as leaders we are focused on demonstrating the strength and resiliency that will carry our company and our country through this challenging period.”
The KeyCorp earnings report doesn’t include its outlook for 2020. Even so, we know what Wall Street expects. That includes earnings per share of $1.01 on revenue of $6.36 billion for the year.
KEY stock was down 6.45% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
