"PNC" Crushes Estimates (NYSE: PNC)

NEW YORK - PNC Financial brought Wall Street back today as it reported stronger than expected Q1 net income. Net income came in at $832 million, or $1.57 per diluted common share this compares to fourth quarter net income of $820 million, or $1.50 per diluted common share.

PNC CEO James Rohr said "“Confidence is returning to the economy, and our strong balance sheet, capital position and sales momentum create tremendous opportunities for PNC to increase market share. We recently enhanced the return on shareholder investment through a significant increase in our second quarter dividend. Going forward, PNC will continue to invest in our businesses for growth across the franchise.”