Community Bank System Q4 Earnings Fall, But Revenue Edges Up

(RTTNews) - Community Bank System, Inc. (CBU) Tuesday reported lower earnings for the fourth quarter. However, revenue edged up from the prior year.

Quarterly earnings decreased to $38.3 million or $0.71 per share from $52.53 million or $0.97 per share last year, impacted by non-operating and other noninterest expense items.

Excluding items, earnings per share was $0.80 compared to $1.00 per share in the prior year.

On average, eight analysts polled by Thomson Reuters had expected earnings of $0.84 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased to $177.12 million from $175.93 million in the previous year.

The Street view for revenue is $175.03 million.

In pre-market activity, Community Bank shares are trading at $50.63, down 0.06% on the New York Stock Exchange.