UPDATE: Fifth Third Q3 Profit Down 4.7%

Fifth Third Bancorp FITB reported a 4.7% drop in its third-quarter earnings. Fifth Third Bancorp's quarterly profit fell to $363 million, from $381 million, in the year-ago period. Its per-share earnings dropped to $0.38 from $0.40. Fifth Third's revenue rose 0.7% to $1.58 billion. However, analysts were projecting a profit of $0.38 per share on revenue of $1.57 billion. Its net interest margin declined to 3.56% from 3.65%. Fifth Third Bancorp shares closed at $15.13 yesterday.