Q2 Earnings Reactions: BofA and Synchrony Financial Beat; PNC Financial Mixed Results
- July 18th, 2023
- 365 views
Bank of America Corporation (NYSE: BAC) exceeded expectations in its second-quarter 2023 financial report, posting an earnings per share (EPS) of $0.88 and revenue of $25.2 billion compared to the consensus estimates of $0.84 and $25.05 billion, respectively.
$BAC was trading at $29.59 in pre-market, reflecting a gain of $0.19 (0.65%).
Synchrony Financial (NYSE: SYF) also performed well in the second quarter, reporting an EPS of $1.32, surpassing the consensus estimate of $1.24.
$SYF rose in pre-market trading to $35.65, up $0.14 (0.39%).
On the other hand, The PNC Financial Services Group, Inc. (NYSE: PNC) delivered better-than-expected earnings with an EPS of $3.36, beating the consensus estimate of $3.28. However, the company's revenue for the quarter fell short of expectations, coming in at $5.29 billion compared to the consensus estimate of $5.45 billion.
In pre-market, $PNC was trading at $123.05, down $4.11 (3.23%)
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