PNC Q3 earnings miss estimates, while cost management remains better than expected
PNC PNC Financial Services Group Inc
$215.80 -1.68%
View chart & analysis → - 1PNC's Q3 revenue of $6.56 billion fell below analysts' expectations of $6.58 billion for total interest and fee income.
- 2PNC's Q3 non-interest expense of $3.75 billion was lower than the Bloomberg survey analyst average estimate of $3.77 billion.
- 3PNC's net interest income (NII) rose 2.4% from Q2 to $4.21 billion but fell short of the consensus estimate of $4.23 billion.
So what's the key point?
PNC's third-quarter earnings were lower than what experts predicted. However, spending was lower than expected, totaling $3.75 billion.
Source The Wall Street Journal +1 · View original ↗
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