Credit Suisse Group Earnings: Here’s Why Investors Like These Results
Credit Suisse Group (NYSE:CS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.39%.
Credit Suisse Group Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 25% to $0.85 in the quarter versus EPS of $0.68 in the year-earlier quarter.
Revenue: Decreased 32.15% to $7.12 billion from the year-earlier quarter.
Quoting Management: “The first quarter of 2013 shows that the strategic measures we have successfully implemented since mid-2011 are effective in bringing results to the bottom line on a consistent basis,” Chief Executive Brady Dougan said.
Key Stats (on next page)…
Revenue decreased 31.53% from $10.39 billion in the previous quarter. EPS increased 431.25% from $0.16 in the previous quarter.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)