Earnings Summary: Key Takeaways from Fifth Third Bancorp's Q1 2024 Results
Friday, 19 April 2024, 14:03
Earnings Summary
Financial services company Fifth Third Bancorp (NASDAQ: FITB) released its results for the first quarter of 2024, highlighting a decline in net interest income and earnings.
Key Highlights:
- Net income: Available to common shareholders decreased to $480 million in Q1 2024.
- Earnings per share: Declined to $0.70 from $0.78 in Q1 2023.
- Net interest income: Was down 8% year-over-year to $1.38 billion.
Despite the challenges, non-interest income rose to $710 million during Q1.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.