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PNC Financial reports Q2 EPS $3.85, consensus $3.53

Reports Q2 revenue $5.66B, consensus $5.61B. Reports Q2 tangible book value per share $103.96. Reports Q2 CET1 capital ratio 10.5%. Reports Q2 net charge-offs .25%. Bill Demchak, PNC chairman and CEO said, “Our national growth strategy continues to deliver results. New customer acquisition is accelerating, while we continue to deepen relationships with our existing customers across businesses. The strength of our franchise resulted in strong loan and revenue growth even through an uncertain macro environment, while expenses remained well controlled. Overall, we had a great quarter.”

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