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Mar 31, 2021

PNC Q1 2021 Earnings Report

PNC's first quarter performance in 2021 reflected strong financial results.

Key Takeaways

PNC Financial Services Group reported a net income of $1.826 billion for the first quarter of 2021. The total revenue was $4.220 billion, and the diluted earnings per share were $4.10.

Net income from continuing operations was $1.826 billion.

Total revenue reached $4.220 billion.

Diluted earnings per share were $4.10.

The company is pending acquisition of BBVA USA Bancshares, Inc.

Total Revenue
$4.22B
Previous year: $4.52B
-6.6%
EPS
$4.1
Previous year: $1.95
+110.3%
Efficiency Ratio
61%
Gross Profit
$4.19B
Previous year: $4.33B
-3.1%
Cash and Equivalents
$7.46B
Previous year: $7.49B
-0.5%
Total Assets
$474B
Previous year: $445B
+6.5%

PNC

PNC

PNC Revenue by Segment

Forward Guidance

PNC is expecting the BBVA USA acquisition to close in mid-2021, subject to customary closing conditions, including receipt of regulatory approvals.

Revenue & Expenses

Visualization of income flow from segment revenue to net income