Truist Financial Q2 Revenue Rises 5.1% to $5.31 Billion, Missing Net Interest Income Estimates

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2▲3 ▼2Impact / 5
Summary · why it matters

Truist Financial reported second-quarter revenues of $5.31 billion, up 5.1% year on year and 1.5% above analysts' expectations, though the bank missed analysts' net interest income estimates even as it beat EPS estimates. Among the 7 diversified banks stocks tracked, the group's revenues beat consensus by 4.6%, yet share prices have fallen 5.5% on average since the latest earnings results. Truist delivered the weakest performance against analyst estimates and the slowest revenue growth among its peers, and its stock is down 10.3% since reporting, trading at $47.79. Citigroup posted the best quarter in the group with revenues of $24.79 billion, up 14.3% year on year and 4.5% above expectations, while U.S. Bancorp reported the weakest quarter with revenues of $7.76 billion, up 9.9% and 2.1% above estimates but a miss on tangible book value per share. Bank of America reported revenues of $31.78 billion, up 15% year on year and 3.3% above expectations, and Wells Fargo reported revenues of $22.7 billion, up 8.6% and 3.9% above expectations.

Impact on assets 6

Financials± Mixed · 5 stocks
Truist Financial Corp
TFC
▼ NegativeCapitalrelevance

Truist missed net interest income estimates and delivered the weakest performance against analyst estimates and slowest revenue growth among peers.

Bank of America Corp
BAC
▲ PositiveCapitalrelevance

Bank of America reported revenues of $31.78 billion, up 15% year on year and 3.3% above expectations.

U.S. Bancorp
USB
▼ NegativeCapitalrelevance

U.S. Bancorp reported the weakest quarter in the group with a miss on tangible book value per share.

Wells Fargo & Company
WFC
▲ PositiveCapitalrelevance

Wells Fargo reported revenues of $22.7 billion, up 8.6% year on year and 3.9% above expectations.

Digital Finance & Tokenization▲ · 1 stocks
Citigroup Inc.
C
▲ PositiveCapitalrelevance

Citigroup posted the best quarter in the group with revenues of $24.79 billion, up 14.3% year on year and 4.5% above expectations.