Fifth Third Records Gain on Worldpay Share Sale, Profit Rises
April 23 2019 - 7:21AM
Dow Jones News
By Allison Prang
In the first quarter, Fifth Third Bancorp's (FITB) profit rose
compared with the comparable quarter a year ago as earnings were
helped by certain items.
The regional banking company reported $775 million in profit, up
11%. Fifth Third's earnings were $1.12 a share, up from 96 cents a
share. Analysts polled by Refinitiv were expecting $1.05 a
share.
Fifth Third had a $433 million gain on selling Worldpay shares,
which helped its earnings in the quarter.
Net interest income rose 8.6% to $1.08 billion. Analysts were
expecting $1.11 billion. Noninterest income at the company climbed
21% to $1.1 billion.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
April 23, 2019 07:06 ET (11:06 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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