Regions Financial Corp. Announces Retreat In Q1 Profit, misses estimates

(RTTNews) - Regions Financial Corp. (RF) reported a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $343 million, or $0.37 per share. This compares with $588 million, or $0.62 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.3% to $1.75 billion from $1.95 billion last year.

Regions Financial Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $343 Mln. vs. $588 Mln. last year. -EPS (Q1): $0.37 vs. $0.62 last year. -Revenue (Q1): $1.75 Bln vs. $1.95 Bln last year.