The PNC Financial Services Group, Inc. reported third-quarter adjusted earnings of $3.78, which surpassed the Zacks Consensus Estimate of $3.66 (as reported in Zacks Equity Research). Revenues rose +6.8% from the year-ago quarter to $5.55 billion, surpassing the Zacks Consensus Estimate of $5.39 billion.(as reported in Zacks Equity Research).
Net interest income surged +21.8% from the year-ago quarter to $3.48 billion, with the net interest margin widening 55 basis points to 2.82%.
Total loans rose +1% sequentially to $315.4 billion as of Sep 30. But total deposits fell nearly -1% to $438.2 billion.