UPDATE: Fifth Third Q1 Profit Down 1.9%
Fifth Third Bancorp (NASDAQ: FITB) reported a 1.9% drop in its first-quarter earnings.
Fifth Third's quarterly profit fell to $422 million, from $430 million, in the year-ago period. Its per-share earnings climbed to $0.46 from $0.45 per share.
Its revenue dropped 2.2% to $1.64 billion. However, analysts were expecting earnings of $0.39 per share on revenue of $1.59 billion.
Fifth Third shares closed at $15.80 yesterday.
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