Commerzbank (DE:CBKG) reported on Wednesday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Commerzbank announced earnings per share of €-0.24 on revenue of €3.32B. Analysts polled by anticipated EPS of €0.04 on revenue of €2.05B. That with comparison to EPS of €0.1 on revenue of €2.17B in the same period a year before. Commerzbank had reported EPS of €-0.04 on revenue of €2.16B in the previous quarter. Analysts are expecting EPS of €0.01 and revenue of €2.03B in the upcoming quarter.
Commerzbank shares are down 45% from the beginning of the year , still down 62.42% from its 52 week high of €7.95 set on May 15, 2019. They are under-performing the STOXX 600 which is down 19.81% year to date.
Commerzbank follows other major Financial sector earnings this month
Commerzbank's report follows an earnings missed by Allianz on Tuesday, who reported EPS of €3.21 on revenue of €42.6B, compared to forecasts EPS of €4.15 on revenue of €38.3B.
Deutsche Boerse had beat expectations on April 30 with first quarter EPS of €2.11 on revenue of €914.8M, compared to forecast for EPS of €2.09 on revenue of €887.69M.
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