Newsletter

Menu

PNC Financial Q2 profit rises 1%, beats estimates

By Staff Correspondent |

PNC Financial Services Group (NYSE: PNC) reported a 1% rise in earnings for the second quarter of 2019 helped by lower income tax expenses as well as higher interest income and a rise in non-interest income. The results exceeded analysts’ expectations.

Net income rose by 1% to $1.37 billion or $2.88 per share. Revenue increased 3% to $4.44 billion, helped by higher net interest income and an increase in non-interest income.

Net interest income grew 4% year-over-year as higher loan and securities yields and balances were partially offset by higher deposit and borrowing costs. The non-interest income rose 2% helped by higher debit and credit card revenue, as well as a gain on the sale of the retirement record keeping business and higher net securities gains.

PNC Financial Q2 profit rises 1% beats estimates

Non-interest expenses rose by 1% as a result of the asset write-offs and ongoing business investments reflected in higher personnel, occupancy and marketing expense. These increases were offset in part by a decrease in FDIC insurance due to the elimination of the surcharge.

For the second quarter, average loans rose by 5% year-over-year driven by growth in both commercial and consumer lending balances. The overall credit quality remained strong as non-performing assets remained virtually flat from last year, a 30% jump in net charge-offs, and allowance for loan and lease losses increased by 5%.

Average total assets increased 6% primarily due to higher loans and investment securities. Average investment securities increased by 8% and quarter-end balances grew by 10% due to net purchase activity of primarily agency residential mortgage-backed securities near the end of the second quarter. Average balances held with the Federal Reserve Bank decreased to $13.2 billion from $20.7 billion a year ago as investment of liquidity continued.

Also read: Chewy Q1 earnings preview

PNC returned $1.2 billion of capital to shareholders in the second quarter of 2019 through repurchases of 6 million common shares for $802 million and dividends on common shares of $431 million. On July 9, 2019, the PNC board of directors raised the quarterly cash dividend on common stock by 21% to $1.15 per share, effective with the August 5, 2019 dividend payment date.

Over the past two years, US economic growth has accelerated to above its long-run trend. However, growth is expected to slow over the course of 2019 and into 2020. PNC Financial expects that further gradual improvement in the labor market this year, including job gains and rising wages, will be another positive for consumer spending. Inflation has slowed in early 2019, to below the FOMC’s 2% objective, but is expected to gradually increase over the next two years.

Shares of PNC Financial ended Tuesday’s regular session down 1% at $138.76 on the NYSE. Following the earnings release, the stock rose 0.71% in the pre-market session.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Advertisement

More on this Company

Earnings Update by AlphaStreet

Seacoast Banking Reports Q4 and Full-Year 2025 Results, Boosted by Balance Sheet Expansion

January 30, 2026
Earnings Update by AlphaStreet

Seacoast Banking Corporation Reports Significant Q4 2025 Growth Following Major Acquisition

January 30, 2026
Earnings Update by AlphaStreet

Primis Financial Corp. Reports Multi-Fold Growth in Q4 2025 Earnings Amid Strategic Realignment

January 30, 2026

213 responses to “PNC Financial Q2 profit rises 1%, beats estimates”

  2. Business majors

    […]we like to honor quite a few other net websites around the internet, even though they aren’t linked to us, by linking to them. Underneath are some webpages really worth checking out[…]

  16. withdrawal and addition

    […]we prefer to honor many other web web sites around the net, even if they aren’t linked to us, by linking to them. Below are some webpages really worth checking out[…]

  19. programs

    […]here are some links to web-sites that we link to for the reason that we assume they’re worth visiting[…]

  28. SEOSolutionVIP Fiverr

    […]although sites we backlink to below are considerably not connected to ours, we really feel they’re essentially really worth a go through, so have a look[…]

  35. Fiverr Earn

    […]check beneath, are some absolutely unrelated websites to ours, nevertheless, they may be most trustworthy sources that we use[…]

  37. fiverrearn.com

    […]very couple of internet websites that take place to be in depth below, from our point of view are undoubtedly effectively worth checking out[…]

  42. clothes manufacturer usa

    […]we prefer to honor numerous other internet websites on the internet, even though they aren’t linked to us, by linking to them. Under are some webpages really worth checking out[…]

  48. isla mujeres golf cart

    […]Wonderful story, reckoned we could combine a few unrelated information, nevertheless truly really worth taking a search, whoa did one master about Mid East has got far more problerms at the same time […]

  64. Fiverr.Com

    […]Wonderful story, reckoned we could combine several unrelated information, nevertheless actually really worth taking a search, whoa did 1 understand about Mid East has got far more problerms too […]

  65. best university Egypt

    […]we like to honor lots of other world wide web websites around the internet, even if they aren’t linked to us, by linking to them. Underneath are some webpages really worth checking out[…]

  69. Secure piano storage

    […]Wonderful story, reckoned we could combine several unrelated information, nonetheless definitely worth taking a appear, whoa did one understand about Mid East has got more problerms too […]

  72. Secure storage

    […]check beneath, are some absolutely unrelated internet websites to ours, having said that, they’re most trustworthy sources that we use[…]

  73. Reliable movers

    […]we like to honor numerous other net web-sites around the web, even though they aren’t linked to us, by linking to them. Beneath are some webpages worth checking out[…]

  76. Classic Books 500

    […]although sites we backlink to below are considerably not associated to ours, we feel they are essentially worth a go as a result of, so possess a look[…]

  77. FiverrEarn

    […]that could be the finish of this write-up. Right here you will find some sites that we assume you’ll value, just click the hyperlinks over[…]

  79. FiverrEarn

    […]please stop by the web-sites we comply with, such as this one particular, because it represents our picks from the web[…]

  80. Training Philippines

    […]although web sites we backlink to below are considerably not related to ours, we feel they may be really really worth a go by way of, so possess a look[…]

  88. fue

    […]here are some hyperlinks to web pages that we link to because we consider they may be really worth visiting[…]

  92. FiverrEarn

    […]that will be the finish of this article. Here you’ll find some web sites that we feel you will value, just click the links over[…]

  95. FiverrEarn

    […]that will be the finish of this report. Right here you will locate some web-sites that we think you will appreciate, just click the links over[…]

  96. FiverrEarn

    […]that is the finish of this write-up. Here you’ll obtain some internet sites that we consider you’ll enjoy, just click the links over[…]

  105. FiverrEarn

    […]very handful of web-sites that occur to become detailed below, from our point of view are undoubtedly nicely worth checking out[…]

  106. FiverrEarn

    […]very few websites that take place to become detailed beneath, from our point of view are undoubtedly well really worth checking out[…]

  111. seo company florida

    […]Wonderful story, reckoned we could combine a few unrelated information, nonetheless genuinely really worth taking a appear, whoa did a single find out about Mid East has got much more problerms at the same time […]

  112. email

    […]Wonderful story, reckoned we could combine some unrelated information, nonetheless really really worth taking a search, whoa did one find out about Mid East has got more problerms too […]

  116. Generator Sales Leeds

    […]we prefer to honor a lot of other net websites around the web, even when they aren’t linked to us, by linking to them. Under are some webpages really worth checking out[…]

  125. 늑대닷컴

    […]just beneath, are numerous completely not related web sites to ours, even so, they are surely really worth going over[…]

  126. Slot Hewan

    […]Every when in a though we pick out blogs that we read. Listed beneath are the latest web-sites that we choose […]

  128. superslot

    […]always a major fan of linking to bloggers that I enjoy but really don’t get a good deal of link love from[…]

  130. allgame

    […]the time to study or check out the subject material or internet sites we’ve linked to below the[…]

  132. หวย24

    […]Wonderful story, reckoned we could combine a couple of unrelated data, nonetheless definitely worth taking a appear, whoa did 1 find out about Mid East has got extra problerms at the same time […]

  135. pg slot

    […]just beneath, are quite a few absolutely not related web sites to ours, nonetheless, they are surely worth going over[…]

  136. leak detection london

    […]that would be the finish of this report. Right here you’ll come across some internet sites that we think you’ll enjoy, just click the hyperlinks over[…]

  140. hotel in lake placid

    […]we like to honor many other online websites on the web, even when they aren’t linked to us, by linking to them. Under are some webpages worth checking out[…]

  141. evisa

    […]here are some links to web-sites that we link to since we assume they may be really worth visiting[…]

  142. 6mm arc ammo

    […]although internet sites we backlink to beneath are considerably not related to ours, we feel they’re basically really worth a go by way of, so possess a look[…]

  143. 450 bushmaster ammo

    […]Wonderful story, reckoned we could combine a number of unrelated data, nevertheless definitely really worth taking a appear, whoa did one particular discover about Mid East has got additional problerms at the same time […]

  145. itsMasum.Com

    […]we prefer to honor a lot of other web web pages around the internet, even though they aren’t linked to us, by linking to them. Under are some webpages worth checking out[…]

  147. MasumINTL

    […]although web sites we backlink to below are considerably not related to ours, we really feel they may be essentially worth a go by, so have a look[…]

  151. itme.xyz

    […]although web-sites we backlink to beneath are considerably not connected to ours, we really feel they may be actually really worth a go via, so possess a look[…]

  155. ItMe.Xyz

    […]that may be the finish of this post. Here you’ll locate some internet sites that we consider you’ll appreciate, just click the hyperlinks over[…]

  157. mzplay

    […]Wonderful story, reckoned we could combine some unrelated data, nonetheless seriously worth taking a appear, whoa did a single study about Mid East has got more problerms as well […]

  159. de zaragoza

    […]Wonderful story, reckoned we could combine a couple of unrelated data, nevertheless really really worth taking a appear, whoa did 1 discover about Mid East has got far more problerms at the same time […]

  162. sex cams

    […]check below, are some absolutely unrelated websites to ours, on the other hand, they may be most trustworthy sources that we use[…]

  170. Bentley

    […]Wonderful story, reckoned we could combine some unrelated data, nevertheless genuinely really worth taking a appear, whoa did 1 understand about Mid East has got more problerms at the same time […]

  171. ABB

    […]Every after inside a though we pick out blogs that we study. Listed below would be the newest internet sites that we decide on […]

  186. richest vietnamese american

    […]Wonderful story, reckoned we could combine a few unrelated data, nevertheless definitely worth taking a look, whoa did 1 understand about Mid East has got extra problerms too […]

  191. mexican candy store near me

    […]we like to honor numerous other world wide web web pages on the internet, even though they aren’t linked to us, by linking to them. Below are some webpages really worth checking out[…]

  193. linh hoang

    […]Wonderful story, reckoned we could combine some unrelated information, nevertheless seriously really worth taking a appear, whoa did one particular find out about Mid East has got extra problerms also […]

  195. playnet

    […]check below, are some entirely unrelated internet websites to ours, even so, they may be most trustworthy sources that we use[…]

  205. Dog Papers

    […]please take a look at the web sites we follow, like this one particular, because it represents our picks from the web[…]

  210. exotic bullies

    […]just beneath, are numerous entirely not connected sites to ours, nonetheless, they may be certainly really worth going over[…]

  213. brazilian jiu jitsu in houston

    […]Wonderful story, reckoned we could combine a number of unrelated information, nonetheless truly really worth taking a search, whoa did one particular learn about Mid East has got far more problerms too […]

Top