UPDATE: Comerica Q1 Profit Gains 3.1%

Comerica CMA reported a 3.1% rise in its first-quarter earnings. Comerica's quarterly profit surged to $134 million, or $0.70 per share, from $130 million, or $0.66 per share, in the year-ago period. However, analysts were expecting earnings of $0.68 pera share. Its net interest income declined 5.9% to $416 million, while total noninterest income dropped 2.9% to $200 million. Comerica shares closed at $34.13 yesterday.