Finance
 Posted by - April 16, 2018

M&T Bank (MTB) Q1 Earnings Miss On Higher Costs; Revenues Up

Have you been eager to see how  (MTB – Free Report) performed in Q1 in comparison with the market expectations? Let's quickly scan through the key facts from this New York-based major bank's earnings release this morning:

An Earnings Miss

How Was the Estimate Revision Trend?

Regarding earnings surprise history, before posting earnings miss in Q1, the company delivered positive earnings surprises in three of the trailing four quarters, with an average positive surprise of 4.84% in the trailing four quarters.

Revenue Came In Higher Than Expected 

Key Takeaways

  • Net operating came in at $357 million, up around 1% year over year.
  • Taxable-equivalent Net interest income increased 6% year over year to $980 million.
  • Non-interest expense of $933 million increased 18% year over year.
  • Efficiency ratio came in at 64% in quarter, compared with 56.9% in the prior year quarter. Generally, a higher ratio indicates decreased efficiency.

    • What Zacks Rank Says

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