Truist Financial Q4 Results Top Estimates - Quick Facts

(RTTNews) - Truist Financial Corp. (TFC) reported Thursday that net income applicable to common shareholders for the fourth quarter surged to $1.23 billion or $0.90 per share from $702 million or $0.75 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter were $1.60 billion or $1.18 per share, compared to $1.05 billion or $1.12 per share in the year-ago quarter.

Total revenue for the quarter increased to $5.65 billion from $3.63 billion in the same quarter last year, reflecting an increase of $1.1 billion in taxable-equivalent net interest income and an increase of $887 million in noninterest income.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.97 per share on revenue of $5.41 billion for the quarter. Analysts' estimates typically exclude certain special items.