PNC Financial Services Group (NYSE:PNC) First Quarter 2024 Results
Main financial results
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Revenue: USD 4.99 billion (down 7.0% from Q1 2023).
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Net profit: USD 1.25 billion (down 22% from Q1 2023).
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Margin: 25% (down from 30% in Q1 2023).
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EPS: USD 3.10 (down from USD 3.99 in Q1 2023).
All numbers shown in the chart above are for the trailing 12 month (TTM) period.
PNC Financial Services Group's EPS exceeds expectations, but revenue falls short
Sales were 1.8% lower than analysts expected. Earnings per share (EPS) exceeded analyst expectations by 3.2%.
Looking ahead, revenues are expected to grow at an average annual rate of 4.4% over the next three years, compared to a 5.8% growth forecast for the U.S. banking industry.
performance of American banking industry.
The company's stock price fell 4.0% from the previous week.
balance sheet analysis
Just as investors need to consider its earnings, it's also important to consider the strength of a company's balance sheet. As a result of some analysis, we found that See our view on PNC Financial Services Group's balance sheet.
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