Categories AlphaGraphs, Earnings, Finance
PNC Earnings: PNC Financial’s Q3 profit drops despite revenue growth
The PNC Financial Services Group, Inc. (NYSE: PNC) Tuesday reported mixed results for the third quarter of 2024, with earnings declining and revenue increasing year-over-year.
Net income attributable to common shareholders was $1.40 billion or $3.49 per share in the September quarter, compared to $1.44 billion or $3.60 per share in the comparable period of 2023. The company declared a quarterly cash dividend of $1.60 per share, to be paid on November 5, 2024, to shareholders of record as of October 16, 2024.
Revenues moved up 4% annually to $5.44 billion in Q3. During the quarter, the company returned $0.8 billion of capital to shareholders, reflecting about $0.6 billion of dividends and more than $0.1 billion of common share repurchases.
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