Why Truist Financial Stock Is Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
Truist Financial Corporation's Q2 revenues rose 5.1% YoY to $5.97 billion, missing the consensus of $5.99 billion. EPS was $0.92, missing the consensus of $1.01. The company faced revenue headwinds from higher funding costs and lower-than-anticipated capital markets activity. The provision for credit losses more than doubled YoY to $538 million. TFC shares are trading lower by 4.6%.
July 20, 2023 | 2:07 pm
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NEGATIVE IMPACT
Truist Financial's Q2 results missed expectations, leading to a drop in its stock price.
Truist Financial's Q2 revenues and EPS missed the consensus, which is likely to negatively impact investor sentiment and lead to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100