WASHINGTON (dpa-AFX) - KeyCorp (KEY) reported third quarter net income from continuing operations to shareholders of $454 million, or $0.41 per share compared to a net loss from continuing operations of $447 million, or $0.47 per share, a year ago. Adjusted net income was $450 million, or $0.41 per share, compared to adjusted net income of $285 million, or $0.30 per share, last year. Analysts on average expected the company to report profit per share of $0.38, for the quarter. Analysts' estimates typically exclude special items.
Taxable-equivalent net interest income was $1.19 billion, up 23.8% from last year. Taxable-equivalent total revenue was $1.90 billion, up 172.7%. Adjusted taxable-equivalent revenue was $1.90 billion compared to $1.61 billion. Analysts on average had estimated $1.88 billion in revenue.
Chairman and CEO, Chris Gorman, said: 'We are on track to deliver record revenue in 2025. We will continue to deliver outsized EPS growth. We will reach a 15% or better return on tangible common equity within the next few years.'
Shares of KeyCorp are up 1% in pre-market trade on Thursday.
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