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published in Blogs
Oct 17, 2022
PNC (PNC, $149.64) beats Q3 earnings expectations

PNC (PNC, $149.64) beats Q3 earnings expectations

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.

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