PNC Financial profit doubles on tax gain

(Reuters) – Regional lender PNC Financial (NYSE:) Services’ quarterly profit doubled, driven by a $911 million one-time benefit related to President Donald Trump’s new tax law.

The Pittsburgh, Pennsylvania-based bank said on Friday that net income attributable to diluted common shares rose to $2.01 billion in the fourth quarter ended Dec. 31, from $973 million a year earlier. http://reut.rs/2ASj9uc

Earnings per share rose to $4.18 from $1.97.

Analysts on average were looking for $2.20 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable.

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