Commerce Bancshares Inc. Q1 Profit Falls, but beats estimates

(RTTNews) - Commerce Bancshares Inc. (CBSH) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $118.15 million, or $0.97 per share. This compares with $130.97 million, or $1.06 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.88 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.4% to $340.56 million from $341.79 million last year.

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

-Earnings (Q1): $118.15 Mln. vs. $130.97 Mln. last year. -EPS (Q1): $0.97 vs. $1.06 last year. -Analyst Estimates: $0.88 -Revenue (Q1): $340.56 Mln vs. $341.79 Mln last year.