The PNC Financial Services Group (PNC) Revenue — Quarter Ended Dec 31, 2023
Revenue for the quarter rose compared with the immediately preceding period but declined relative to the same quarter one year earlier.
Key takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
Revenue for the quarter rose compared with the immediately preceding period but declined relative to the same quarter one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$5.4B
Revenue reported for this quarter.
Quarter-over-quarter
+2.4%
Change from the immediately preceding quarter.
Year-over-year
-7.0%
Change from the comparable year-ago quarter.
Trailing four quarters
$21.5B
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 |
|---|---|---|
| Mar 31, 2023 | $5.6B | +19.4% |
| Jun 30, 2023 | $5.3B | +3.5% |
| Sep 30, 2023 | $5.2B | -5.7% |
| Dec 31, 2023 | $5.4B | -7.0% |
Revenue performance
The quarter's revenue improved from the prior quarter, reversing the sequential decline seen in the previous period. However, it remained below the level achieved in the same quarter of the prior year.
Quarterly comparison
Compared with the immediately preceding quarter, revenue increased. Compared with the same quarter a year ago, revenue decreased.
What to watch
Monitor whether the company can sustain the sequential revenue growth in upcoming quarters.