Credit Suisse Posts Lower Q1 Profit

Credit Suisse Group AG CS reported a drop in first-quarter profit. Credit Suisse's quarterly profit slipped to 859 milion Swiss francs ($975.47 million), from a year-earlier profit of 1.3 billion francs. Its net revenue declined 8% to 6.47 billion francs. However, analysts were projecting a profit of 1.13 billion francs. Credit Suisse shares dropped 2.33% to $31.02 in pre-market trading.