Comerica (CMA) Q1 Earnings Beat Estimates, Revenues Fall Y/Y [Yahoo! Finance]
Comerica Incorporated (CMA)
Last comerica incorporated earnings: 4/21 06:34 am
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investor.comerica.com
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Source: Yahoo! Finance
However, the bottom line plunged 48% from the prior-year quarter. Results were affected due to a decline in revenues and higher expenses than the year-ago quarter. A sequential decrease in loan and deposit balances was another headwind. Nonetheless, CMA's strong capital ratios indicate its availability of adequate capital to use in order to deal with any unexpected losses. Net income attributable to common shareholders was $131 million, down 58.7% from the year-ago quarter. Revenues Decline, Expenses Rise Total quarterly revenues were $784 million, down 20.8% year over year. Also, the top line missed the consensus estimate of $807.57 million. Quarterly net interest income fell 22.6% on a year-over-year basis to $548 million. The net interest margin contracted 77 basis points year over year to 2.80%. Total non-interest income was $236 million, down 16.3% on a year-over-year basis. The decrease was primarily due to the risk management hedging loss, partly offset by decreases
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CMA
Earnings
- 4/18/24 - Miss
CMA
Sec Filings
- 4/26/24 - Form 8-K
- 4/26/24 - Form 10-Q
- 4/26/24 - Form 4
- CMA's page on the SEC website