Commerce Bancshares Inc. Q2 Profit Declines 6%

(RTTNews) - Commerce Bancshares Inc. (CBSH) announced earnings for second quarter that lost ground from last year.

The company said its bottom line declined to $67.64 million, or $0.70 per share. This was lower than $72.10 million, or $0.72 per share, in last year's second quarter.

Analysts had expected the company to earn $0.68 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 3.8% to $288.40 million. This was up from $277.89 million last year.

Commerce Bancshares Inc. earnings at a glance:

-Earnings (Q2): $67.64 Mln. vs. $72.10 Mln. last year. -Earnings Decline (Y-o-Y): -6.2% -EPS (Q2): $0.70 vs. $0.72 last year. -EPS Decline (Y-o-Y): -2.8% -Analysts Estimate: $0.68 -Revenue (Q2): $288.40 Mln vs. $277.89 Mln last year. -Revenue Change (Y-o-Y): 3.8%