PNC Financial Services Group Inc. Announces Fall In Q1 Profit, but beats estimates

(RTTNews) - PNC Financial Services Group Inc. (PNC) revealed a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $1.25 billion, or $3.10 per share. This compares with $1.61 billion, or $3.98 per share, in last year's first quarter.

Analysts on average had expected the company to earn $3.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.0% to $5.15 billion from $5.60 billion last year.

PNC Financial Services Group Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.25 Bln. vs. $1.61 Bln. last year. -EPS (Q1): $3.10 vs. $3.98 last year. -Revenue (Q1): $5.15 Bln vs. $5.60 Bln last year.