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KeyCorp Climbs After Profit Exceeds Estimates: Detroit Mover

Oct. 18 (Bloomberg) -- KeyCorp, 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

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