UPDATE: PNC Financial Posts Higher Q4 Profit

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PNC Financial Services Group
PNC
reported a rise in its fourth-quarter earnings. PNC's quarterly profit surged to $718 million, from $476 million, in the year-ago period. Its per-share earnings climbed to $1.24 from $0.85. Its total revenue climbed 15% to $4.07 billion, while noninterest income rose 22%. PNC's net interest income jumped 10%. However, analysts were expecting earnings of $1.57 per share on revenue of $3.94 billion. PNC's noninterest expense increased 4% to $2.83 billion. PNC shares closed at $59.78 yesterday.
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Posted In: EarningsNewsprofit
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