By Robert Barba

PNC Financial Services Group Inc. (PNC) reported better-than-expected earnings in the latest quarter, as noninterest income boosted revenue.

The regional bank reported net income for the fourth quarter of $1.38 billion, or $2.97 a share, compared with $1.34 billion, or $2.75 a share. Analysts polled by FactSet expected net income of $2.93 a share.

Total revenue was $4.6 billion, up 6% from $4.34 billion a year earlier. Analysts were expecting $4.49 billion.

Net interest income was $2.49 billion, flat from a year earlier. Meanwhile, noninterest income rose 14%, to $2.12 billion.

Noninterest expense was $2.76 billion, up from $2.58 billion.

The company's provision for loan losses was $221 million, up from $148 million a year earlier.

Write to Robert Barba at robert.barba@wsj.com

(END) Dow Jones Newswires

January 15, 2020 07:14 ET (12:14 GMT)

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