CHARLOTTE – Bill Rogers, Truist’s Chairman & CEO, didn’t have a lot of positive news to discuss after the Charlotte-based bank announced earnings on Thursday. In fact, Truist missed Wall Street estimates.
“Second quarter financial results were mixed as revenue headwinds from higher funding costs and lower-than-anticipated capital markets activity were partially offset by record insurance income,” Rogers said in a statement.
“Adjusted expenses were within our guidance range, though we are accelerating our plans to adjust our cost base to reflect efficiency opportunities and changing conditions,” he added.
Zack’s estimated earnings would be 98 cents a share. They came in at 95 cents.
Net income of $1.23 billion missed estimates of $1.3 billion.
Revenues of $5.92 billion were slightly below estimates of $5.94 billion
Read the financial report details online.
