The PNC Financial Services Group (PNC) Revenue — Quarter Ended Mar 31, 2023
Revenue decreased compared to the prior quarter but showed strong growth compared to the same quarter last year. The decline from the preceding period reflects a sequential moderation, while the year-over-year gain underscores continued expansion.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue decreased compared to the prior quarter but showed strong growth compared to the same quarter last year. The decline from the preceding period reflects a sequential moderation, while the year-over-year gain underscores continued expansion.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$5.6B
Revenue reported for this quarter.
Quarter-over-quarter
-2.8%
Change from the immediately preceding quarter.
Year-over-year
+19.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$22B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $5.1B | +9.6% |
| Sep 30, 2022 | $5.5B | +6.8% |
| Dec 31, 2022 | $5.8B | +12.4% |
| Mar 31, 2023 | $5.6B | +19.4% |
Revenue performance
The reported revenue for this quarter was lower than the immediately preceding quarter, yet significantly higher than the same period one year ago. This pattern indicates a temporary quarterly fluctuation within an overall upward trajectory.
Quarterly comparison
Sequentially, revenue contracted from the prior quarter, while on a year-over-year basis, revenue expanded considerably. The year-earlier comparison shows a substantial improvement in revenue generation.
What to watch
Monitor whether the sequential revenue decline persists or reverses in the upcoming quarter.