Community Financial System, Inc. Q1 Profit Increases, Beats Estimates

(RTTNews) - Community Financial System, Inc. (CBU) released earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $49.6 million, or $0.93 per share. This compares with $40.9 million, or $0.76 per share, last year.

Excluding items, Community Financial System, Inc. reported adjusted earnings of $0.98 per share for the period.

Analysts on average had expected the company to earn $0.91 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 10.7% to $196.2 million from $177.3 million last year.

Community Financial System, Inc. earnings at a glance (GAAP) :

-Earnings: $49.6 Mln. vs. $40.9 Mln. last year. -EPS: $0.93 vs. $0.76 last year. -Revenue: $196.2 Mln vs. $177.3 Mln last year.