Northern Trust Q1 Profit Tops View - Quick Facts

(RTTNews) - Northern Trust Corp. (NTRS) reported that its first-quarter net earnings allocated to common and potential common shares were $221.1 million or $0.94 per share, compared with $178.5 million or $0.75 per share in the comparable quarter last year. On average, 19 analysts polled by Thomson Reuters expected the company to earn $0.87 per share. Analysts' estimates typically exclude special items.

Total revenue for the latest first quarter rose 9 percent to $1.13 billion from $1.04 billion in the previous-year quarter. Wall Street analysts had a consensus revenue estimate of $1.12 billion for the quarter.

Non-interest income increased 10% to $873.9 million from the prior year quarter's $794.8 million, primarily reflecting higher trust, investment and other servicing fees and foreign exchange trading income. Net interest income on a fully taxable equivalent or FTE basis increased 5% to $266.8 million compared to $254.4 million in the prior year quarter.