Financial services company Fifth Third Bancorp (NASDAQ: FITB) on Friday reported results for the first quarter of 2024. There is a decline in net interest income and earnings.
- Net income available to common shareholders decreased to $480 million in Q1 from $535 million a year earlier
- On a per-share basis, earnings decreased to $0.70 in the first quarter from $0.78 in Q1 2023
- At $1.38 billion, March-quarter net interest income was down 8% year-over-year
- Meanwhile, non-interest income moved up to $710 million in Q1 from $696 million last year
- First-quarter non-interest expense was $1.34 billion, vs. $1.33 billion in the prior-year period
- There was a 4% decrease in average portfolio loans and leases in Q1 to $117.33 billion
- Average deposits increased 5% compared to the year-ago quarter to $168.1 billion
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
QCOM Earnings: Qualcomm Q2 2024 revenue and profit beat Street view
Semiconductor company Qualcomm, Inc. (NASDAQ: QCOM) reported an increase in earnings and revenues for the second quarter of 2024. The numbers came in above analysts' estimates. At $9.39 billion, March-quarter
Key takeaways from Amazon’s Q1 2024 earnings report
Amazon.com Inc. (NASDAQ: AMZN) had an upbeat start to fiscal 2024, delivering strong growth across the business in the first three months of the year. While the cloud segment continues
Key takeaways from Pfizer’s (PFE) Q1 2024 earnings report
Shares of Pfizer Inc. (NYSE: PFE) gained over 5% on Wednesday following the company’s announcement of its first quarter 2024 earnings results. Although the top and bottom line numbers decreased
