First BanCorp. Announces 9% Fall In Q1 Bottom Line

(RTTNews) - First BanCorp. (FBP) reported a profit for first quarter that decreased from last year.

The company said its bottom line dropped to $23.34 million, or $0.11 per share. This was lower than $25.65 million, or $0.12 per share, in last year's first quarter.

Analysts had expected the company to earn $0.08 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 0.8% to $124.65 million. This was down from $125.65 million last year.

First BanCorp. earnings at a glance:

-Earnings (Q1): $23.34 Mln. vs. $25.65 Mln. last year. -Earnings Decline (Y-o-Y): -9.0% -EPS (Q1): $0.11 vs. $0.12 last year. -EPS Decline (Y-o-Y): -8.3% -Analysts Estimate: $0.08 -Revenue (Q1): $124.65 Mln vs. $125.65 Mln last year. -Revenue Change (Y-o-Y): -0.8%