PNC Reports Third Quarter 2020 Net Income Of $1.5 Billion, $3.39 Diluted EPS
PITTSBURGH, Oct. 14, 2020 /PRNewswire/ — The PNC Financial Services Group, Inc. (NYSE: PNC) today reported:
For the quarter |
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In millions, except per share data |
3Q20 |
2Q20
|
3Q19 |
|||
Net income (loss) from continuing operations |
$1,532 |
($744) |
$1,181
|
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Net income from discontinued operations |
— |
$4,399 |
$211 |
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Net income
|
$1,532 |
$3,655 |
$1,392 |
|||
Diluted earnings (loss) per common share from continuing operations |
$3.39
|
($1.90) |
$2.47 |
|||
Diluted earnings per common share from discontinued operations |
— |
$10.28
|
$.47 |
|||
Diluted earnings per common share |
$3.39 |
$8.40 |
$2.94
|
“PNC delivered solid third quarter results against the backdrop of a continuing uncertain economy. Noninterest income increased, expenses were well managed and we continued to generate positive operating leverage. Deposits grew while loans declined as a result of lower commercial loan utilization rates, despite |