Marshall & Ilsley Profit Jumps - TheStreet

Marshall & Ilsley Profit Jumps

Shares of the financial-services company gain 1.8% on the news.
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Financial-services company

Marshall & Ilsley


posted an increase in third-quarter earnings on Monday.

The Milwaukee-based company reported quarterly earnings of $140.3 million, or 61 cents a share, compared to $119.2 million, or 54 cents a share, in the previous-year quarter. Analysts were expecting 60 cents a share.

The company said earnings for the three months ended Sept. 30 include an after-tax amount of $2.3 million, or a penny a share, related to Metavante's acquisition-related transition expenses. Additionally, Marshall & Ilsley sold one of its capital markets portfolio companies, resulting in a pretax gain of $16.2 million. Its cost of debt refinancing was $54.7 million in the quarter.

Shares of the company were up 60 cents, or 1.8%, at $34.44 at midday Monday.