Comerica Inc. Reports Decline in Q2 2024 Earnings Amid Reduced Net Interest Income
Friday, 19 July 2024, 15:25
Comerica Q2 2024 Earnings Summary
Comerica Incorporated (NYSE: CMA) has reported a decline in net interest income and adjusted earnings for the second quarter of 2024.
Earnings Per Share
The company reported second-quarter earnings per share of $1.49, significantly lower than $2.01 reported in the year-ago quarter.
Loan Performance
Loans decreased by $301 million sequentially to $51.1 billion in Q2, primarily driven by weakness in Equity Fund Services.
Conclusion
This profit decline raises red flags about Comerica's operational performance and market conditions.
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.