Truist Financial Q4 Profit Increases, Tops Estimates - Quick Facts

(RTTNews) - Truist Financial Corp. (TFC) reported Thursday that net income applicable to common shareholders for the fourth quarter surged to $1.52 billion or $1.13 per share from $1.23 billion or $0.90 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter were $1.85 billion or $1.38 per share, compared to $1.60 billion or $1.18 per share in the year-ago quarter.

Total revenue for the quarter decreased to $5.57 billion from $5.65 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.25 per share on revenue of $5.58 billion for the quarter. Analysts' estimates typically exclude certain special items.