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3Q profit slips for PNC 

Oct 19, 2011By

PNC Financial Services Group Inc. [stock PNC][/stock] reported a third-quarter profit of $834 million, or $1.55 a share, down from $1.1 billion, or $2.07 a share, in the year-ago period, but the company reported improving credit quality. Last year’s third quarter included a gain of $328 million, or 62 cents a share, for the sale of PNC Global Investment Servicing. For the first nine months of 2011, the Pittsburgh, Pa.-based company earned $2.6 billion, or $4.79 a share, compared to the same total, but $4.24 a share, for the first nine months of 2010.

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