The PNC Financial Services Group, Inc. (NYSE: PNC) reported lower revenue and earnings for the fourth quarter of 2023.
Net income attributable to common shareholders was $744 million or $1.85 per share in the December quarter, compared to $1.40 billion, or $3.47 per share in the prior year period. On an adjusted basis, earnings dropped to $3.16 per share in Q4 from $3.47 per share last year.
Revenues declined 7% annually to $5.36 billion during the three months, reflecting decreases in both net interest income and non-interest income.