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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Comerica Beats Expectations 0 comments
    Jul 15, 2014 11:04 AM | about stocks: CMA

    Originally published at www.seclive.com

    Comerica Incorporated (NYSE:CMA) announced its second quarter financial results for fiscal year 2014, publishing results that exceeded analyst expectations. The financial services company reported earnings of $149M and $0.80 per share, up from the year-ago $141M and $0.76 per share, beating expectations of $0.76 per share. Net interest income rose steadily from $414M to $416M while noninterest income fell by a similar figure from $222M to $220M. Comerica is forecasting net interest income and noninterest income to be slightly lower for the year while predicting growth between 4% and 6% in loans, which increased 4% this quarter. Chairman and CEO Ralph Babb remarked that the company's results reflect economic improvements, particularly in California and Texas, where loan growth was strongest.

    Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: CMA
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