Regional lender PNC Financial Services' quarterly profit doubled, driven by a $911 million one-time benefit related to President Donald Trump's new tax law.
The Pittsburgh, Pennsylvania-based bank said on Friday that net income attributable to diluted common shares rose to $2.01 billion in the fourth quarter ended Dec. 31, from $973 million a year earlier. http://reut.rs/2ASj9uc
Earnings per share rose to $4.18 from $1.97.
Analysts on average were looking for $2.20 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable.
(Reporting By Aparajita Saxena in Bengaluru; Editing by Bernard Orr)