PNC Financial Services Group Inc. Q4 Profit Decreases, but beats estimates

PNC Financial Services Group Inc. (PNC) revealed a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $1.22 billion, or $2.86 per share. This compares with $1.39 billion, or $3.26 per share, in last year's fourth quarter.

Excluding items, PNC Financial Services Group Inc. reported adjusted earnings of $1.56 billion or $3.68 per share for the period.

Analysts on average had expected the company to earn $3.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.9% to $5.13 billion from $4.21 billion last year.

PNC Financial Services Group Inc. earnings at a glance:

-Earnings (Q4): $1.22 Bln. vs. $1.39 Bln. last year.
-EPS (Q4): $2.86 vs. $3.26 last year.
-Analyst Estimates: $3.16
-Revenue (Q4): $5.13 Bln vs. $4.21 Bln last year.

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