Truist Financial Corporation Q1 Profit Increases, Beats Estimates

(RTTNews) - Truist Financial Corporation (TFC) announced a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $1.16 billion, or $0.87 per share. This compares with $1.09 billion, or $0.81 per share, last year.

Excluding items, Truist Financial Corporation reported adjusted earnings of $1.16 billion or $0.87 per share for the period.

Analysts on average had expected the company to earn $0.86 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 1.6% to $4.95 billion from $4.87 billion last year.

Truist Financial Corporation earnings at a glance (GAAP) :

-Earnings: $1.16 Bln. vs. $1.09 Bln. last year. -EPS: $0.87 vs. $0.81 last year. -Revenue: $4.95 Bln vs. $4.87 Bln last year.