Truist Financial Corporation Q4 Profit Increases, beats estimates

(RTTNews) - Truist Financial Corporation (TFC) released a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $1.52 billion, or $1.13 per share. This compares with $1.23 billion, or $0.90 per share, in last year's fourth quarter.

Excluding items, Truist Financial Corporation reported adjusted earnings of $1.85 billion or $1.38 per share for the period.

Analysts on average had expected the company to earn $1.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.4% to $5.57 billion from $5.65 billion last year.

Truist Financial Corporation earnings at a glance:

-Earnings (Q4): $1.52 Bln. vs. $1.23 Bln. last year. -EPS (Q4): $1.13 vs. $0.90 last year. -Analyst Estimate: $1.25 -Revenue (Q4): $5.57 Bln vs. $5.65 Bln last year.