UPDATE: Comerica Posts Higher Q1 Profit

Comerica

reported a rise in its first-quarter earnings. Comerica's quarterly net income rose to $139 million, from $134 million, in the year-ago quarter. Its earnings per share gained to $0.73 from $0.70. However, analysts were expecting earnings of $0.72 per share. Its average total loans rose 1% quarter-over-quarter, while noninterest income slipped $11 million to $208 million in the quarter, versus $219 million in the fourth quarter of 2013. Comerica shares closed at $48.59 yesterday.