PNC Financial (NYSE:PNC) reported on Wednesday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
PNC Financial announced earnings per share of $1.95 on revenue of $4.52B. Analysts polled by anticipated EPS of $2.21 on revenue of $4.39B. That with comparison to EPS of $2.61 on revenue of $4.29B in the same period a year before. PNC Financial had reported EPS of $2.97 on revenue of $4.61B in the previous quarter. Analysts are expecting EPS of $2.18 and revenue of $4.39B in the upcoming quarter.
PNC Financial shares are down 37% from the beginning of the year , still down 38.52% from its 52 week high of $161.79 set on December 30, 2019. They are under-performing the S&P 500 which is down 12.29% year to date.
PNC Financial follows other major Financial sector earnings this month
PNC Financial's report follows an earnings missed by JPMorgan on Tuesday, who reported EPS of $0.78 on revenue of $29.07B, compared to forecasts EPS of $2.28 on revenue of $29.53B.
UnitedHealth had beat expectations on Wednesday with first quarter EPS of $3.72 on revenue of $64.42B, compared to forecast for EPS of $3.63 on revenue of $64.18B.
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