WILMINGTON, N.C. (AP) — WILMINGTON, N.C. (AP) — Live Oak Bancshares Inc. (LOB) on Wednesday reported second-quarter net income of $27 million.
The bank, based in Wilmington, North Carolina, said it had earnings of 59 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The bank holding company posted revenue of $232.6 million in the period. Its revenue net of interest expense was $125.5 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $123.1 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LOB at https://www.zacks.com/ap/LOB
