Comerica Q2 Profit Declines; Backs 2015 Outlook - Quick Facts

(RTTNews) - Financial services company Comerica, Inc. (CMA) Friday said second-quarter net income attributable to common shares declined to $134 million or $0.73 per share from $149 million or $0.80 per share in the comparable quarter last year. On average, 30 analysts polled by Thomson Reuters expected earnings of $0.75 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the latest first quarter was $421 million, compared to $416 million in the prior year, while total non-interest income grew to $261 million from $220 million.

Provision for credit losses was $47 million, compared to $11 million in the previous year.

For 2015, the company continues to expect net interest income and non-interest income to be relatively stable, while provision for credit losses is estimated to be higher.