Fifth Third Bancorp Earnings: Double-Digit Profit Growth Cheered by Investors

Fifth Third Bancorp (NASDAQ:FITB) generated a solid profit and beat Wall Street’s expectations. Investors are cheering shares higher 2.77%.

Start 2013 better than ever by saving time and making money with your Limited Time Offer for our highly-acclaimed Stock Picker Newsletter. Click here for our fresh Feature Stock Pick now!

Fifth Third Bancorp Earnings Cheat Sheet

Results: Net income increased 24.2% to $390 million (43 cents per diluted share) in the quarter versus a net gain of $314 million in the year-earlier quarter.

Actual vs. Wall St. Expectations: Fifth Third Bancorp reported adjusted net income of 43 cents per share. By that measure, the company beat the mean analyst estimate of $0.41.

Important Value Metric: Book value per share at December 31, 2012 was $15.10 and tangible book value per share was $12.33, compared with September 30, 2012 book value per share of $14.84 and tangible book value per share of $12.12…

Key Stats:

Revenue increased 18.06% from $1.69 billion in the previous quarter. Net income increased 7.44% from $363 million in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.37 to a profit $0.39. For the current year, the average estimate has moved up from a profit of $1.61 to a profit of $1.62 over the last ninety days.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials.)