Have you been eager to see how Comerica Incorporated (CMA – Analyst Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Texas-based money center bank’s earnings release this morning:

An Earnings Beat

Comerica came out with earnings per share of 74 cents, beating the Zacks Consensus Estimate of 69 cents.  Higher revenues aided by rise in both net interest as well as non-interest income were primarily responsible for this earnings beat.

How Was the Estimate Revision Trend?

You should note that the earnings estimate for Comerica reflected pessimism prior to the earnings release. The Zacks Consensus Estimate has moved down 1.4% over the last 7 days.

Also, Comerica has a decent earnings surprise history. Before posting earnings beat in Q3, the company delivered positive surprises in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 1.02% in the trailing four quarters.

Revenue Came In Lower Than Expected   
 
Comerica posted revenues of $686 million, which marginally miss the Zacks Consensus Estimate of $692 million. However, it compared favorably with the year-ago number of $629 million.

Key Stats to Note:

What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Comerica. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.