PNC Financial Services Group posted second-quarter revenue that fell short of analysts’ expectations, sending shares of the regional bank lower Tuesday morning.
PNC (ticker: PNC) reported earnings of $3.36 a share, roughly flat year over year, but ahead of the $3.29 per share penciled in among analysts surveyed by FactSet. Revenue for the June-ended quarter came in at $5.29 billion. Analysts were looking for $5.45 billion.
Net interest income—a key metric of profit among banks—was $3.5 billion, roughly matching analysts’ expectations.
The stock fell 2.5% to $124 in premarket trading Tuesday.
Write to Karishma Vanjani at [email protected].
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