Earnings

PNC Financial’s profit more than doubles on gain sale of stake in BlackRock

An ATM is shown at company headquarters for the PNC Financial Services at One PNC Plaza in Pittsburgh, Pennsylvania.

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PNC Financial’s second-quarter profit more than doubled as the U.S. regional bank recorded a gain from the sale of its position in asset manager BlackRock.

Net income attributable to common shareholders jumped to $3.59 billion, or $8.40 per share, in the three months ended June 30, from $1.31 billion, or $2.88 per share, a year earlier, the bank said on Wednesday.

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