Fifth Third reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that was inline with expectations.
Fifth Third announced earnings per share of $0.68 on revenue of $1.89B. Analysts polled by anticipated EPS of $0.35 on revenue of $1.89B. That with comparison to EPS of $1.12 on revenue of $2.19B in the same period a year before. Fifth Third had reported EPS of $0.96 on revenue of $2.27B in the previous quarter. Analysts are expecting EPS of $0.41 and revenue of $1.89B in the upcoming quarter.
Fifth Third shares are down 45% from the beginning of the year , still down 47.28% from its 52 week high of $31.64 set on December 13, 2019. They are under-performing the S&P 500 which is down 12.99% year to date.
Fifth Third follows other major Financial sector earnings this month
Fifth Third's report follows an earnings missed by JPMorgan on April 14, who reported EPS of $0.78 on revenue of $29.07B, compared to forecasts EPS of $1.87 on revenue of $29.54B.
UnitedHealth had beat expectations on April 15 with first quarter EPS of $3.72 on revenue of $64.42B, compared to forecast for EPS of $3.63 on revenue of $64.16B.
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