Before the opening bell on Wednesday, a number of big name, dividend paying companies announced their quarterly earnings. Below, we look at these earnings reports and break down the important points for investors.
Bank of America Turns Q1 Profit
The bank reported earnings of $3.4 billion, or 27 cents per share, compared to a net loss of $276 million, or 5 cents per share, last year. On average, analysts expected to see EPS of 29 cents.
Revenue slipped to $21.42 billion from $22.77 billion last year. Analysts expected to see $21.50 billion in revenue.
PNC Financial Services Beats EPS Estimates; Revenue Misses
PNC Financial Services (PNC ) reported earnings of $926 million, or $1.75 per share, down from $983 million, or $1.82 per share, a year ago. On average, analysts expected to see EPS of $1.72.
Revenue was $3.73 billion from $3.78 billion last year. Analysts expected to see revenue of $3.75 billion.
Delta Air Lines Reports Higher Q1 Results
Delta Air Lines (DAL ) reported Q1 earnings of $746 million, or 90 cents per share, up from $533 million, or 25 cents per share, last year. Excluding special items, EPS was 45 cents – above analysts’ view of 44 cents.
Revenue increased 5% to $9.39 billion from $8.92 billion last year. Analysts expected to see revenue of $9.39 billion.