PNC Financial (PNC) Q1 Earnings Beat Estimates, Costs Rise [Yahoo! Finance]
PNC Financial Services Group, Inc. (The) (PNC)
Last pnc financial services group, inc. (the) earnings: 4/15 06:41 am
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Source: Yahoo! Finance
The adjusted figure excludes the impacts of expenses from the FDIC special assessment. In the prior-year quarter, the company reported earnings per share of $3.98. Results were aided by a rise in deposit balances and an improvement in the company's credit quality. However, an increase in non-interest expenses and lower net interest income (NII) were headwinds. Net income was $1.3 billion, plunging 20.7% from the prior-year quarter. Quarterly Revenues Total quarterly revenues were $5.15 billion, down 8.2% year over year. The top line missed the Zacks Consensus Estimate of $5.18 billion. Quarterly NII was $3.26 billion, which declined 9% from the year-ago quarter. Net interest margin (NIM) decreased 27 basis points to 2.57%. Our estimate for NII and NIM was $3.32 billion and 2.61%, respectively. Non-interest income fell 6.8% year over year to $1.88 billion. The downtick was due to the decline in income from residential and commercial mortgage fees. Our estimate was $1.88 bil
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PNC
Earnings
- 4/16/24 - Beat
PNC
Sec Filings
- 4/29/24 - Form 8-K
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- PNC's page on the SEC website