Commerce: Q2 Earnings Snapshot

Associated Press Finance
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KANSAS CITY, Mo. (AP) — KANSAS CITY, Mo. (AP) — Commerce Bancshares Inc. (CBSH) on Wednesday reported second-quarter profit of $127.8 million.

The bank, based in Kansas City, Missouri, said it had earnings of $1.02 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.

The bank holding company posted revenue of $496.3 million in the period. Its revenue net of interest expense was $397.1 million, which also topped Street forecasts. Five analysts surveyed by Zacks expected $387.2 million.

Commerce shares have fallen 25% since the beginning of the year. The stock has decreased 19% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBSH at https://www.zacks.com/ap/CBSH

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