SVB Financial Group Q1 Income Retreats 11%

(RTTNews) - SVB Financial Group (SIVB) released a profit for first quarter that decreased compared to the same period last year.

The company said its bottom line came in at $79.17 million, or $1.52 per share. This was down from $88.52 million, or $1.71 per share, in last year's first quarter.

Analysts had expected the company to earn $1.70 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

SVB Financial Group earnings at a glance:

-Earnings (Q1): $79.17 Mln. vs. $88.52 Mln. last year. -Earnings Decline (Y-o-Y): -10.6% -EPS (Q1): $1.52 vs. $1.71 last year. -EPS Decline (Y-o-Y): -11.1% -Analysts Estimate: $1.70