PNC and Citigroup First Quarter Earnings Outperform Analyst Expectations
PNC Financial and Citigroup both reported first quarter earnings per share that exceeded analyst expectations. PNC reported an earnings per share of $4.13, beating analyst estimates by $0.22. This follows a 12-month stock price increase of 45.97%. The bank reported first quarter revenue of $6.17 billion, which fell short of the consensus estimate of $6.24 billion. Citigroup reported first quarter earnings per share of $3.06, exceeding analyst estimates of $2.63 by $0.43. The bank's first quarter revenue of $24.6 billion topped the consensus estimate of $23.51 billion by $1.09 billion.
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