Commerce Bancshares Inc. Q1 Profit Declines, but beats estimates

(RTTNews) - Commerce Bancshares Inc. (CBSH) announced a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $112.66 million, or $0.86 per share. This compares with $119.45 million, or $0.91 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.81 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.2% to $397.85 million from $389.24 million last year.

Commerce Bancshares Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $112.66 Mln. vs. $119.45 Mln. last year. -EPS (Q1): $0.86 vs. $0.91 last year. -Revenue (Q1): $397.85 Mln vs. $389.24 Mln last year.