CINCINNATI (AP) - Fifth Third Bancorp (FITB) on Tuesday reported third-quarter net income of $381 million.
CINCINNATI (AP) — Fifth Third Bancorp (FITB) on Tuesday reported third-quarter net income of $381 million.
The Cincinnati-based bank said it had earnings of 45 cents per share.
The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The regional bank posted revenue of $1.62 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $1.5 billion.
Fifth Third shares have declined almost 7 percent since the beginning of the year, while the Standard & Poor's 500 index has declined 1 percent. The stock has climbed nearly 5 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FITB at http://www.zacks.com/ap/FITB
Keywords: Fifth Third Bancorp, Earnings Report