PNC Financial (PNC) Q4 Earnings Beat on Lower Cost & Provisions
PNCPNC(PNC) Zacks Investment Research·2024-01-18 04:16

The PNC Financial Services Group, Inc. (PNC) reported fourth-quarter 2023 earnings per share of $3.16, which surpassed the Zacks Consensus Estimate of $2.99. The outperformance was aided by lower provision for credit losses and adjusted non-interest expenses compared with the year-ago quarter's level.Lower Provision for Credit Losses & Expenses Fuel OutperformanceNon-interest expenses totaled $4.1 billion in the fourth quarter of 2023. This included the impact of FDIC special assessment and workforce reduct ...