BRIEF-PNC Posts Q2 Revenue $6.88 Billion Versus IBES Estimate $6.50 Billion

PNC Financial Services Group, Inc.
Visa

PNC Financial Services Group, Inc.

PNC

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Visa

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July 15 (Reuters) - PNC Financial Services Group Inc PNC.N:

  • PNC Q2 ADJUSTED EPS $4.85 VERSUS IBES ESTIMATE $4.42

  • PNC Q2 PROVISION FOR CREDIT LOSSES $191 MILLION VERSUS IBES ESTIMATE $251.7 MILLION

  • PNC Q2 NET INTEREST INCOME $4.11 BILLION

  • PNC Q2 CET1 CAPITAL RATIO 9.9%

  • PNC Q2 ADJ NET INTEREST MARGIN 2.96%

  • PNC: SHARE REPURCHASE ACTIVITY IN Q3 EXPECTED TO APPROXIMATE Q2 SHARE REPURCHASE LEVELS

  • PNC: Q2 NONINTEREST INCOME UP 59% & INCLUDED GAIN OF $448 MILLION RELATED TO PNC’S PARTICIPATION IN VISA EXCHANGE PROGRAM

  • PNC Q2 REVENUE $6.88 BILLION VERSUS IBES ESTIMATE $6.50 BILLION

  • PNC: $448 MILLION GAIN IN Q2 OFFSET BY $140 MILLION PNC FOUNDATION CONTRIBUTION EXPENSE, $139 MILLION SECURITIES LOSS

  • PNC: IN Q2, INCURRED INTEGRATION COSTS RELATED TO FIRSTBANK ACQUISITION OF $127 MILLION

Further company coverage: PNC.N


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