UPDATE: Hudson City Bancorp Reports 33% Drop In Q2 Net Income

Hudson City Bancorp Inc HCBK reported a 33% drop in its second-quarter net income. HCBK's quarterly earnings fell to $96 million, or $0.19 per share, from $142.6 million, or $0.29 per share, in the year-ago quarter. However, analysts were expecting earnings of $0.18 per share. Its revenue from interest on loans dropped 14% y/y to $272.9 million from $317.5 million. HCBK shares closed at $8.20 yesterday.