ING Groep (AS:INGA) reported on Friday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
ING Groep announced earnings per share of €0.17 on revenue of €4.51B. Analysts polled by anticipated EPS of €0.15 on revenue of €4.2B. That with comparison to EPS of €0.29 on revenue of €4.58B in the same period a year before. ING Groep had reported EPS of €0.23 on revenue of €4.44B in the previous quarter. Analysts are expecting EPS of €0.23 and revenue of €4.44B in the upcoming quarter.
ING Groep shares are down 52% from the beginning of the year , still down 54.88% from its 52 week high of €11.26 set on January 9. They are under-performing the AEX which is down 14.47% year to date.
ING Groep shares gained 3.75% in intra-day trade following the report.
ING Groep follows other major Financial sector earnings this month
ING Groep's report follows an earnings beat by Flow Traders NV on April 21, who reported EPS of €5.71 on revenue of €196.39M, compared to forecasts EPS of €2.2 on revenue of €196.39M.
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