KeyCorp Climbs After Profit Exceeds Estimates: Detroit Mover

KeyCorp (KEY), Ohio’s second-largest bank, climbed the most since March after reporting third-quarter profit that beat analysts’ estimates.

KeyCorp rose 5.2 percent to $8.85 at 9:31 a.m. in New York. Operating net income fell 6.6 percent to $214 million, or 23 cents a share, from $229 million, or 24 cents, a year earlier, the Cleveland, Ohio-based bank said today in a statement. That exceeded the average estimate of 21 cents a share from analysts surveyed by Bloomberg. Revenue rose 8.1 percent to $1.12 billion from a year earlier.

To contact the reporter on this story: Laura Marcinek in New York at lmarcinek3@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.