Bank earnings season went into full swing Friday morning with Q2 results from five big names. Here’s a quick take on how Q2 is shaping up for six top banks.
- PNC Financial Services Group Inc PNC 0.34% reported EPS of $1.82 vs. consensus expectations of $1.75. Revenue of $3.79 billion fell just shy of the $3.81 billion consensus estimate.
- U.S. Bancorp USB 0.21% reported EPS of $0.83 vs. consensus estimates of $0.81. Q2 revenue was $5.45 billion versus expectations of $5.19 billion.
- PacWest Bancorp PACW 0.62% delivered EPS of $0.68 versus consensus estimates of $0.69. Revenue of $255.9 million also came up short of the $264.9 million consensus prediction.
- Citigroup Inc C 0.49% reported EPS of $1.24 versus $1.10 consensus expectations. Revenue of $17.5 billion was in-line with Street predictions.
- Wells Fargo & Co WFC 0.19% reported EPS of $1.01, in-line with consensus expectations. However, revenue of $22.16 billion came up just short of the Street’s projection of $22.17.
- On Thursday, JPMorgan Chase & Co. JPM 0.16% kicked off bank earning season by reporting EPS of $1.55 on revenue of $25.21 billion, both well ahead of consensus estimates of $1.43 and $24.06 billion, respectively.
All together, the banks have delivered…
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