TFC - Truist Financial Reports Mixed Q1 Earnings Expects Further Decline In Annual Revenues | Benzinga
Truist Financial Corporation (NYSE:TFC) reported first-quarter adjusted EPS of 90 cents, beating the consensus of 80 cents, down from $1.05 a year ago.
Revenues decreased to $4.87 billion from $5.34 billion a year ago, missing the consensus of $5.7 billion.
Net interest income declined 4.2% due to lower earning assets and higher funding costs; net interest margin was down seven basis points.
Noninterest income was up 6.1% due to higher investment banking and trading income, partially offset by lower lending-related fees.
Average loans and leases Held for investment (HFI) decreased by 1.3% ...