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Fifth Third Beats Consensus

Stock quotes in this article: FITB , V , NCC , STI , RF , TCB , FHN , FCTR  

Fifth Third Bancorp(FITB Quote) on Tuesday beat Wall Street's profit expectations, despite posting a slide in first-quarter profit fueled by a deteriorating residential real estate market.

The Cincinnati-based bank posted a profit of $292 million, 55 cents a diluted share, vs. $359 million, or 65 cents a diluted share, in the year-ago period. Analysts polled by Thomson Financial had expected a profit of 48 cents a share on revenue of $1.52 billion.

Fifth Third shares were jumping 7.1% to $20.75 in recent trading. ...

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