Prosperity Bancshares reports Q1 earnings beat, but revenue net of interest expense misses forecasts

Prosperity Bancshares (NYSE:PB) on Wednesday reported first-quarter net income of $130.2 million.  

The Houston-based bank announced earnings of $1.37 per share for the period.

This result surpassed Wall Street expectations, as the average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.

The financial holding company posted total revenue of $434.1 million in the first quarter.

However, its revenue net of interest expense was $306.7 million, which fell slightly short of Street forecasts.

Four analysts surveyed by Zacks expected revenue net of interest expense of $307.1 million.

Following the earnings release today, the company's share price held steady at $67.16, a little unchanged during early trading.