Fifth Third Bancorp reports $3.24B in Q2 revenue, missing estimates by $10M despite strong year-over-year growth.
Fifth Third Bancorp posted Q2 non-GAAP earnings per share of $1.02, beating estimates by $0.04, while revenue reached $3.24B, up 44% year-over-year but $10M below expectations.
Net interest income climbed to $2.22B from $1.50B a year earlier and $1.94B in the prior quarter. Noninterest income also rose to $1.06B from $750M year-over-year.
The bank’s revenue growth was driven by higher interest income, though the topline miss may weigh on investor sentiment.