PNC Reports Second Quarter Net Income Of $1.0 Billion And $1.88 Diluted EPS
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PNC Financial Services (PNC) Tops Q2 EPS by 12c
July 15, 2015 6:35 AM EDTPNC Financial Services (NYSE: PNC) reported Q2 EPS of $1.88, $0.12 better than the analyst estimate of $1.76. Revenue for the quarter came in at $3.87 billion versus the consensus estimate of $3.78 billion.
Income Statement Highlights
Second quarter earnings reflected revenue growth, well-controlled expenses, improved credit quality and higher loans, securities and deposits.Net interest income of $2.1 billion for the second quarter decreased $20 million, or 1 percent, compared with the first quarter due to lower purchase accounting accretion, while core net interest income was relatively stable.Noninterest income of $1.8 billion for the second... More