Skip to main content

PNC Financial (PNC) - Get Free Report shares were higher Wednesday after the Pittsburgh banking group reported better-than-expected third-quarter earnings and revenue.

In the quarter, PNC earned $2.94 a share, up 4.3% from $2.82 in the year-earlier quarter. A survey of analysts by FactSet was estimating earnings of $2.80 a share.

Revenue in the quarter rose 3.1% to $4.49 billion from $4.36 billion. The FactSet-derived survey was looking for $4.41 billion.

Net interest income rose 1.5% to $2.5 billion from $2.47 billion. The net interest margin narrowed 7 basis points to 2.84%, while FactSet's survey was looking for 2.85%.

Shares of PNC were trading up 0.4% at $141.28.