US Stocks Alert : KeyCorp (NYSE:KEY) Shares Edging Up on Strong Earnings

KeyCorp (NYSE:KEY) soared 10.20% to $7.67 in the opening session after the company reported a recovery in its fourth-quarter loss despite higher loan-loss provisions as the regional bank's posted its seventh-straight quarter of red ink.

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The company’s 4th Quarter loss recovered to $224 million, or 30 cents a share, compared with a year ago period loss of $524 million, or $1.13 a share. Excluding write-downs and other impacts, the loss narrowed to 39 cents a share from 52 cents a share.

Revenue grew 11% to $1.12 billion over the prior-year period.

Analysts polled by Thomson Reuters forecast a loss of 40 cents a share on revenue of $1.06 billion.

KeyCorp's loan-loss provisions increased 56% to $2.5 billion from a year earlier, but were flat with the previous quarter.

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