UPDATE: Northern Trust Q1 Profit Rises 1.7%

Northern Trust

reported a 1.7% rise in its first-quarter earnings. Northern Trust's quarterly profit surged to $164 million, or $0.67 per share, from $161.2 million, or $0.66 per share, in the year-ago period. Its total revenue gained 1.1% to $976.4 million. However, analysts were expecting earnings of $0.72 per share on revenue of $1 billion. Northern Trust shares closed at $53.81 yesterday.