The PNC Financial Services Group, Inc. (NYSE: PNC) on Tuesday reported a decrease in revenues and net profit for the first quarter of 2024.
Net income attributable to common shareholders declined to $1.34 billion or $3.10 per share in the March quarter from $1.69 billion or $3.89 per share in the comparable period of 2023. On an adjusted basis, earnings dropped to $3.36 per share in Q1 from $3.98 per share last year.
Revenues declined 8% annually to $5.15 billion during the three months, reflecting year-over-year decreases in both net interest income and non-interest income.