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PNC Financial Services Group (NYSE: PNC) reported a 26% rise in its first-quarter earnings.

PNC's quarterly profit surged to $1.01 billion, from $805 million, in the year-ago period. On a per-share basis, PNC earned $1.76 versus $1.44.

Its total revenue rose 6% to $4 billion. However, analysts were expecting earnings of $1.57 per share on revenue of $4 billion.

Its net interest margin declined to 3.81% from 3.90%.

PNC shares closed at $64.79 yesterday.

Posted-In: profitEarnings News

 

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