PNC Posts Q2 Revenue $6.88 Billion Versus IBES Estimate $6.50 Billion - PNC News | RalliesPNC Posts Q2 Revenue $6.88 Billion Versus IBES Estimate $6.50 Billion
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PNC• PNC reports second-quarter results
- PNC Q2 adjusted EPS was $4.85 versus IBES estimate $4.42.
- PNC Q2 provision for credit losses was $191 million versus IBES estimate $251.7 million.
- PNC Q2 net interest income was $4.11 billion.
- PNC Q2 CET1 capital ratio was 9.9%.
- PNC Q2 adjusted net interest margin was 2.96%.
- PNC Q2 revenue was $6.88 billion versus IBES estimate $6.50 billion.
- PNC said share repurchase activity in Q3 is expected to approximate Q2 share repurchase levels.
- PNC said Q2 noninterest income rose 59% and included a $448 million gain related to PNC’s participation in the Visa exchange program.
- PNC said the $448 million gain in Q2 was offset by $140 million in PNC Foundation contribution expense and a $139 million securities loss.
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