Comerica Q4 Profit Down

(RTTNews) - Comerica Inc. (CMA) Monday reported a decline in fourth quarter net income attributable to common shares of $129 million from $148 million last year. On a per share basis, earnings were $0.71, compared to $0.80 last year.

On average, 31 analysts polled by Thomson Reuters expected the company to earn $0.69 per share. Analysts estimates usually exclude special items.

Net interest income grew to $433 million from $415 million a year ago, while non-interest income reached $270 million from $225 million in the previous year. Wall Street was looking for $692.39 million.

Looking ahead to the full year 2016, the company expects higher net interest income and higher non-interest expenses. The company said credit losses will be higher for the full year. Street expects $3.10 per share on revenue of $2.88 billion.