Financial services company Zions Bancorporation NA (NASDAQ: ZION) announced results for the second quarter of 2023, reporting a decline in net earnings.
- Net interest income remained broadly unchanged year-over-year at $591 million in the second quarter of 2023
- Net interest margin was 2.92% during the three-month period, compared to 2.87% last year
- Pre-provision net revenue decreased 9% annually to $283 million; adjusted pre-provision net revenue dropped modestly to $296 million
- Net income declined to $166 million or $1.11 per share in the second quarter from $195 million or $1.29 per share last year
- Noninterest expense was $508 million, up 9%; adjusted noninterest expense moved up 7% annually to $494 million
- Second-quarter efficiency ratio came in at 62.5%, compared to 60.7% in the same period of 2022
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
Nike (NKE) looks set to beat hurdles and build a brighter future
Nike, Inc. (NYSE: NKE) has long been ruling the sportswear market but the company had its share of problems when headwinds like the pandemic and economic slowdown hit the business
Electronic Arts (EA): A few points to keep in mind if you have an eye on this gaming company
Shares of Electronic Arts Inc. (NASDAQ: EA) stayed green on Friday. The stock has dropped 7% over the past three months. The video game industry has been facing challenges as
Petros Pharma is focused on establishing mechanisms for Rx-to-OTC switch: CCO Fady Boctor
Petros Pharmaceuticals, Inc. (NASDAQ: PTPI) is a pharma company focused on identifying, developing, and commercializing therapeutics for men's health issues. It operates mainly through the business segments of Prescription Medications
