Comerica Incorporated (NYSE: CMA) reported a decrease in net interest income and adjusted earnings for the first quarter of 2024.
- Comerica reported net interest income of $548 million for the first quarter of 2024, compared to $708 million last year
- Adjusted earnings per share declined to $1.29 in the first quarter from $2.48 in the prior-year period
- Q1 non-interest income decreased to $236 million from $282 million in the same period last year
- Net income was $138 million or $0.98 per share in the March quarter, vs. $324 million or $2.39 per share a year earlier
- At 0.66%, Q1 return on average assets was sharply lower than 1.54% recorded in the first quarter of 2023
- Average loans and average deposits decreased to $51.4 billion and $65.3 billion respectively during the three months
- First-quarter provision for credit losses decreased to $14 million from $30 million in the comparable period last year
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
AAPL Earnings: Apple’s Q2 sales and profit beat estimates; iPhone sales down 10%
Apple Inc. (NASDAQ: AAPL) on Thursday reported better-than-expected profit and revenue for the second quarter of 2024. There was a 10% decrease in iPhone sales. The gadget giant reported revenues
Shopify (SHOP) is all set to report Q1 2024 results. Here’s what to expect
Over the years, Shopify Inc. (NYSE: SHOP) has steadily expanded its footprint in the online retail market through constant innovation, like the recent launch of a mobile POS device for
eBay (EBAY): A look at how the ecommerce company fared in Q1 2024
Shares of eBay Inc. (NASDAQ: EBAY) were down over 2% on Thursday. The company reported its earnings results for the first quarter of 2024 a day ago, with revenue and
