PNC Financial reported third quarter earnings that beat analyst's expectations on Friday and revenue that topped forecasts.
The firm reported earnings per share of $2.82 on revenue of $4.36B. Analysts polled by forecast EPS of $2.73 on revenue of $4.35B. That compared to EPS of $2.16 on revenue of $4.58B in the same period a year earlier The company had reported EPS of $2.72 on revenue of $4.32B in the previous quarter.
PNC Financial shares lost 3% to trade at $131.61 in pre-market trade following the report.
For the year, PNC Financial shares are down 9.39%, under-performing the S&P 500 which is up 1.66% year to date.
PNC Financial follows other major Financial sector earnings this month
On Thursday, Commerce Bancshares reported third quarter EPS of $1.03 on revenue of $331.47M, compared to forecasts of EPS of $0.97 on revenue of $333.7M.
Saratoga Investment Corp earnings beat analyst's expectations on Wednesday, with second quarter EPS of $0.74 on revenue of $11.4M. analysts expected EPS of $0.54 on revenue of $10.37M
