The PNC Financial Services Group (PNC) Revenue — Quarter Ended Sep 30, 2023
The company reported a decline in revenue for the quarter. This continues the decreasing trend observed over the recent quarters.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
The company reported a decline in revenue for the quarter. This continues the decreasing trend observed over the recent quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$5.2B
Revenue reported for this quarter.
Quarter-over-quarter
-1.1%
Change from the immediately preceding quarter.
Year-over-year
-5.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$21.9B
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 |
|---|---|---|
| Dec 31, 2022 | $5.8B | +12.4% |
| Mar 31, 2023 | $5.6B | +19.4% |
| Jun 30, 2023 | $5.3B | +3.5% |
| Sep 30, 2023 | $5.2B | -5.7% |
Revenue performance
Revenue was lower compared to both the preceding quarter and the same quarter a year earlier, reflecting persistent pressure on top-line results.
Quarterly comparison
Sequentially, revenue decreased from the immediately prior quarter. Year over year, revenue also fell relative to the same period last year.
What to watch
Subsequent events such as a portfolio acquisition and a workforce reduction may influence future revenue and expense trends.