UPDATE: PNC Reports 14% Increase In Q2 Net Profit

PNC Financial Services Group Inc PNC reported a 14% rise in its Q2 net profit. PNC's quarterly net profit surged to $912 million, from $803 million in the year-ago period. The group's earnings per share climbed to $1.67 from $1.47 in the year-earlier period. Its revenue declined 7.9% to $3.6 billion. Analysts were expecting earnings of $1.48 per share on revenue of $3.59 billion. PNC shares gained 0.63% to $56.18 in after-hours trading.