The PNC Financial Services Group, Inc. (PNC) is set to unveil its fiscal 2023 fourth quarter financial results on January 16. Analysts predict an 8.1% year-over-year revenue decline to $5.29 billion. Furthermore, the company's EPS is projected to decrease by 22.5% from the corresponding period last year, reaching $2.71.
In October of last year, PNC reported that it was trimming 4% of its workforce and revealed a third-quarter profit dip. Despite increased interest from assets, rising funding costs negated gains. The bank forecasts a 1-2% drop in Net Interest Income (NII) in the fourth quarter, with a 3% sequential NII decline in the third quarter.
