PR Newswire
PITTSBURGH, Oct. 14, 2016
PITTSBURGH, Oct. 14, 2016 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported net income of $1.0 billion, or $1.84 per diluted common share, for the third quarter of 2016 compared with net income of $989 million, or $1.82 per diluted common share, for the second quarter of 2016 and net income of $1.1 billion, or $1.90 per diluted common share, for the third quarter of 2015.
"PNC delivered another good quarter," said William S. Demchak, chairman, president and chief executive officer. "We grew revenue and managed expenses, loans and deposits increased, and capital levels were strong. Looking ahead, we continue to lay the groundwork for greater efficiencies and revenue growth to deliver positive operating leverage and create long-term shareholder value."
Income Statement Highlights
Third quarter 2016 compared with second quarter 2016
Balance Sheet Highlights
Earnings Summary | |||||||||||||
| In millions, except per share data | | | 3Q16 | | | | 2Q16 | | | | 3Q15 | |
| Net income | | $ | 1,006 | | | $ | 989 | | | $ | 1,073 | |
| Net income attributable to diluted common shares | | $ | 913 | | | $ | 914 | | | $ | 987 | |
| Diluted earnings per common share | | $ | 1.84 | | | $ | 1.82 | | | $ | 1.90 | |
| Average diluted common shares outstanding | | | 496 | | | | 503 | | | | 520 | |
| Return on average assets | | | 1.10 | % | | | 1.11 | % | | | 1.19 | % |
| Return on average common equity | | | 8.74 | % | | | 8.87 | % | | | 9.61 | % |
| Book value per common share Period end | | $ | 86.57 | | | $ | 85.33 | | | $ | 81.42 | |
| Tangible book value per common share (non-GAAP) Period end | | $ | 67.93 | | | $ | 66.89 | | | $ | 63.37 | |
| Cash dividends declared per common share | | $ | .55 | | | $ | .51 | | | $ | .51 | |
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The Consolidated Financial Highlights accompanying this news release include additional information regarding reconciliations of non-GAAP financial measures to reported amounts. Reference to core net interest income, a non-GAAP financial measure, is to total net interest income less purchase accounting accretion, which consists of scheduled accretion and excess cash recoveries, as detailed in the Consolidated Financial Highlights. Fee income, a non-GAAP financial measure, refers to noninterest income in the following categories: asset management, consumer services, corporate services, residential mortgage, and service charges on deposits. Information in this news release including the financial tables is unaudited.
CONSOLIDATED REVENUE REVIEW | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | |
Revenue | Change | | | Change | |||||||||||||||||
| | | | | | | | | | | | | | | | 3Q16 vs | | | 3Q16 vs | ||
| In millions | | | 3Q16 | | | | 2Q16 | | | | 3Q15 | | | | 2Q16 | | | 3Q15 | ||
| Net interest income | | $ | 2,095 | | | $ | 2,068 | | | $ | 2,062 | | | | 1 | % | | | 2 | % |
| Noninterest income Werbung Mehr Nachrichten zur PNC Financial Services Group Aktie kostenlos abonnieren
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