The PNC Financial Services Group, Inc posted quarterly adjusted earnings of $3.42 per share, exceeding the Zacks Consensus Estimate of $3.11 per share. The year-ago quarter earnings were $4.50 per share.
The company has topped consensus EPS estimates four times over the last four quarters.
Revenues of $5.12 billion for the quarter also exceeded the Zacks Consensus Estimate by 0.27%. This compares to year-ago revenues of $4.67 billion. It beat consensus revenue estimates three times over the last four quarters.
Net interest income of $3.1 billion increased $247 million, or 9% quarter-over-quarter, on the back of higher yields on interest earning assets and increased loan balances, partially offset by higher funding costs. Noninterest income climbed +9% over the three months to $2.1 billion.