Comerica Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Comerica Inc. (CMA) announced a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $131 million, or $0.98 per share. This compares with $317 million, or $2.39 per share, in last year's first quarter.

Excluding items, Comerica Inc. reported adjusted earnings of $171 million or $1.29 per share for the period.

Analysts on average had expected the company to earn $1.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Comerica Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $131 Mln. vs. $317 Mln. last year. -EPS (Q1): $0.98 vs. $2.39 last year.