PNC Financial Services Group Inc. Q4 Profit Decreases, but beats estimates

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

The company's earnings came in at $744 million, or $1.85 per share. This compares with $1.41 billion, or $3.47 per share, in last year's fourth quarter.

Excluding items, PNC Financial Services Group Inc. reported adjusted earnings of $1.27 billion or $3.16 per share for the period.

Analysts on average had expected the company to earn $2.94 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.9% to $5.36 billion from $5.76 billion last year.

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

-Earnings (Q4): $744 Mln. vs. $1.41 Bln. last year. -EPS (Q4): $1.85 vs. $3.47 last year. -Analyst Estimates: $2.94 -Revenue (Q4): $5.36 Bln vs. $5.76 Bln last year.