PNC Third-Quarter Profit Beats Estimates as Lender Trims Costs

Updated on
  • Net income climbs 3.4% to $1.07 billion or $1.90 a share
  • Revenue declines 1.7% to $3.78 billion, missing estimates

PNC Financial Services Group Inc., the second-largest U.S. regional bank, reported third-quarter profit that beat analysts’ estimates as the lender cut costs to counter a decline in revenue.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.