PNC Financial Services Q3 Net Income Rises

(RTTNews) - The PNC Financial Services Group, Inc. (PNC) reported that its third quarter net income attributable to diluted common shareholders increased to $1.99 billion from $1.72 billion, prior year. Earnings per share increased to $4.97 from $4.35, a year ago. Adjusted net income attributable to diluted common shareholders excluding integration costs and significant items was $2.04 billion or $5.09 per share, for the quarter.

Third quarter revenue increased to $6.56 billion from $5.92 billion, prior year. Net interest income was $4.21 billion compared to $3.65 billion, last year. Noninterest income was $2.36 billion compared to $2.27 billion.

From Bill Demchak, CEO, said: "During the third quarter, we continued to build on the strong momentum we delivered in the first half of the year, and we generated an 18.3% return on average tangible common equity. We are well positioned, and remain confident in our long-term outlook."

In pre-market trading on NYSE, PNC shares are down 3.10 percent to $209.00.

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