Yahoo Finance PNC Financial Services Group First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag
PNC Financial Services Group (NYSE:PNC) First Quarter 2024 Results
Key Financial Results
Revenue: US$4.99b (down 7.0% from 1Q 2023).
Net income: US$1.25b (down 22% from 1Q 2023).
Profit margin: 25% (down from 30% in 1Q 2023).
EPS: US$3.10 (down from US$3.99 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
PNC Financial Services Group EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 3.2%.
Looking ahead, revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 4.0% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on PNC Financial Services Group's balance sheet.
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