Provision for credit losses increased to $219 million during the quarter from $155 million in the same period a year ago, reflecting changes in macroeconomic factors and portfolio activity.
Today's Research Daily features new research reports on 16 major stocks, including Apple Inc., Eli Lilly and Co., and Shopify Inc., as well as a micro-cap stock ImmuCell Corp.
PNC Financial's Q4 revenue exceeds expectations, with analysts forecasting net interest income growth through 2026 driven by loan expansion and yield curve benefits.
Markets fell due to strong job report, higher rates expected. Fed caution on tariffs. 30-yr fixed mortgage at 7.24%. 4 stocks to benefit from high rates.
PNC reported earnings per share (EPS) of $3.77 compared to a Wall Street estimate of $3.31. Revenue rose nearly 2.5% year-over-year (YoY) to $5.57 billion, versus an analyst estimate of $5.49 billion.
Wall Street paused for a breather on Thursday, following Wednesday's big rally sparked by a softer-than-predicted December inflation report that fueled speculation on the Federal Reserve delivering interest rate cut
PNC Financial Services reported Q4 revenue of $5.57 billion, beating consensus of $5.50 billion. Net interest income and noninterest income led to 4% revenue growth. EPS of $3.77 topped consensus of $3.33. PNC also declared a quarterly dividend of $1.60. Q1 guidance includes decrease in average loans and lower total revenue.
