PNC FINANCIAL SERVICES GROUP INC
For the period ended Sep 30, 2024. Filed Nov 1, 2024.
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Sep 30, 2024 · Filed Nov 1, 2024
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Consolidated Income Statement Review
Our Consolidated Income Statement is presented in Item 1 of this Report.
Net income of $1.5 billion, or $3.49 per diluted common share, for the third quarter of 2024 increased $28 million, or 2%, compared to $1.5 billion, or $3.39 per diluted common share, for the second quarter of 2024, primarily due to higher net interest income and strong capital markets and advisory revenue, partially offset by lower other noninterest income. Net income of $4.3 billion, or $9.98 per diluted common share, for the first nine months of 2024 decreased $438 million, or 9%, compared to $4.8 billion, or $10.94 per diluted common share, for the same period in 2023 driven by lower net interest income and a higher provision for credit losses, partially offset by higher noninterest income.
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