Commerce Bancshares Inc. Profit Drops In Q2

(RTTNews) - Commerce Bancshares Inc. (CBSH) announced earnings for second quarter that decreased from the same period last year.

The company's earnings came in at $37.61 million, or $0.34 per share. This compares with $105.72 million, or $0.91 per share, in last year's second quarter.

Analysts had expected the company to earn $0.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.4% to $320.57 million from $338.89 million last year.

Commerce Bancshares Inc. earnings at a glance:

-Earnings (Q2): $37.61 Mln. vs. $105.72 Mln. last year. -EPS (Q2): $0.34 vs. $0.91 last year. -Analysts Estimate: $0.53 -Revenue (Q2): $320.57 Mln vs. $338.89 Mln last year.