WASHINGTON (dpa-AFX) - The PNC Financial Services Group, Inc. (PNC), a bank holding company and financial services corp., on Wednesday announced that its net income increased in the second quarter compared to the previous year.
For the second quarter, Net income attributable to diluted shareholders increased to $1.53 billion from $1.36 billion in the previous year.
Earnings per share were $3.85 versus $3.39 last year.
Nineteen analysts, on average, had expected the company to report $3.53 per share. Analysts' estimates typically exclude special items.
Net interest income climbed 8% to $3.56 billion from $3.30 billion in the previous year.
Non-interest income decreased to $2.106 billion from $2.109 billion in the prior year.
Loans were down 2% at $326.3 billion, compared to $321.4 billion in the same period last year.
Revenue increased 5% to $5.66 billion from $5.41 billion last year.
Looking ahead, the company expected third-quarter 2025 share repurchase activity to remain generally in line with second-quarter levels, totaling approximately $300 million to $400 million.
In the pre-market trading, PNC Financial Services Group is 1.48% higher at $195 on the New York Stock Exchange.
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