PNC Financial Services Q2 Net Interest Income Decreases To $3.302B Compared With $3.510B YoY; Q2 Noninterest Income Totals $2.109B Higher Than $1.783B YoY
Portfolio Pulse from Benzinga Newsdesk
PNC Financial Services reported a decrease in Q2 net interest income to $3.302 billion from $3.510 billion year-over-year, while Q2 noninterest income increased to $2.109 billion from $1.783 billion year-over-year.
July 16, 2024 | 10:54 am
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PNC Financial Services reported mixed Q2 results with a decrease in net interest income but an increase in noninterest income.
The decrease in net interest income could be a concern for investors as it indicates lower profitability from core banking operations. However, the increase in noninterest income suggests growth in other revenue streams, balancing the overall impact.
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