Comerica Q1 Profit Declines - Quick Facts

(RTTNews) - Financial services company Comerica, Inc. (CMA) Friday said first-quarter net income attributable to common shares declined to $132 million from $137 million in the comparable quarter last year. Earnings per share were $0.73, same as last year. On average, 30 analysts polled by Thomson Reuters expected earnings of $0.73 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the latest first quarter was $413 million, compared to $410 million in the prior year, while total non-interest income grew to $256 million from $208 million.

Provision for credit losses was $14 million, compared to $9 million in the previous year.

For 2015, net interest income is still expected to be relatively stable, while provision for credit losses is estimated to be higher, consistent with modest net charge-offs and continued loan growth.