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PNC Financial (PNC) Q4 Earnings Top Estimates, Costs Flare Up
Riding on high revenues, PNC Financial PNC reported a positive earnings surprise of 1.7% in fourth-quarter 2019. Earnings per share of $2.97 surpassed the Zacks Consensus Estimate of $2.92. Further, the bottom line reflects an 8% jump from the prior-year quarter’s reported figure.
Higher revenues, driven by higher net interest income and escalating fee income, aided the company’s results. However, rise in costs and provisions were headwinds. Moreover, lower net interest margin was another concern.
The company’s net income for the quarter came in at $1.38 billion compared with the prior-year quarter’s $1.35 billion.
For full-year 2019, earnings per share came in at $11.39 per share, surpassing the Zacks Consensus Estimate of $11.34. Also, earnings compared favorably with the prior-year figure of $10.71 per share.
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https://finance.yahoo.com/news/pnc-finan...01817.html
![[Bild: PNCc1dl1621.png]](https://finviz.com/publish/011720/PNCc1dl1621.png)
Riding on high revenues, PNC Financial PNC reported a positive earnings surprise of 1.7% in fourth-quarter 2019. Earnings per share of $2.97 surpassed the Zacks Consensus Estimate of $2.92. Further, the bottom line reflects an 8% jump from the prior-year quarter’s reported figure.
Higher revenues, driven by higher net interest income and escalating fee income, aided the company’s results. However, rise in costs and provisions were headwinds. Moreover, lower net interest margin was another concern.
The company’s net income for the quarter came in at $1.38 billion compared with the prior-year quarter’s $1.35 billion.
For full-year 2019, earnings per share came in at $11.39 per share, surpassing the Zacks Consensus Estimate of $11.34. Also, earnings compared favorably with the prior-year figure of $10.71 per share.
...
https://finance.yahoo.com/news/pnc-finan...01817.html
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