Commerce Bancshares Inc. Q3 Income Declines, but beats estimates

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

The company's bottom line came in at $120.60 million, or $0.96 per share. This compares with $122.82 million, or $0.97 per share, in last year's third quarter.

Analysts on average had expected the company to earn $0.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.7% to $391.50 million from $384.89 million last year.

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

-Earnings (Q3): $120.60 Mln. vs. $122.82 Mln. last year. -EPS (Q3): $0.96 vs. $0.97 last year. -Analyst Estimates: $0.93 -Revenue (Q3): $391.50 Mln vs. $384.89 Mln last year.