PNC Financial Services Group recorded higher revenue as part of its national expansion, but the results fell short of Wall Street’s estimates.
Profit was dented by $36 million in integration costs tied to its acquisition of FirstBank.
The Wall Street Journal US Business noted that top-line growth reflects PNC’s broader expansion strategy, while integration expenses from the FirstBank deal weighed on bottom-line performance.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing