Barclays PLC (NYSE:BCS) reported a Q1 profit of $2.73 billion pretax, falling short of the consensus estimate for $2.96 billion.Chief Executive Bob Diamond said, "We have made a good start in 2011 in a challenging external environment. Another solid quarter of profits has further strengthened our Core Tier 1 ratio to 11%. We are making good progress on execution in line with our strategic priorities, with costs and risks carefully managed in the quarter, and our returns on equity and tangible equity (excluding own credit) above 10% and 12%, respectively."