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Cambridge: Q3 Earnings Snapshot

Cambridge: Q3 Earnings Snapshot

CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Cambridge Bancorp (CATC) on Tuesday reported third-quarter earnings of $6.5 million.

The Cambridge, Massachusetts-based bank said it had earnings of 83 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.15 per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The bank posted revenue of $84.3 million in the period. Its revenue net of interest expense was $39.2 million, also beating Street forecasts. Three analysts surveyed by Zacks expected $38.2 million.