Financial services company Truist Financial Corp (NYSE: TFC) announced operating results for the second quarter of 2024.
- Net income available to common shareholders was $826 million or $0.62 per share in Q2, compared to $1.23 billion or $0.92 per share in the year-ago quarter
- Second-quarter adjusted earnings edged down to $0.91 per share from $0.92 per share in the same period last year
- Total revenues decreased year-over-year due primarily to securities losses; adjusted revenues were up 3% year-over-year due to higher net interest income
- Net interest income decreased 2% from last year to $3.58 billion during the three months
- Noninterest expense rose modestly to $3.09 billion in Q2 from $3.05 billion a year earlier