PNC Financial Services rises after second quarter earnings results

PNC Financial Services on Friday posted second quarter earnings that were better than expected by analysts.

The Pittsburgh-based regional bank operator outperformed estimates of $1.75 per earnings per diluted share, reporting $1.82 per share.

Revenue for PFC was slightly lower for the same period, however, falling from $3.81bn to $3.79bn.

CEO of the company William Demchak said the company was pleased with its results for the quarter.

"We had a good second quarter against a backdrop of global uncertainty," Demchak said.

In the aftermath of Britain's decision to leave the European Union last month, many banks and financial services companies were expected to endure difficult periods, but the true brunt of the decision may not be felt until later quarters.

"In the wake of the Brexit vote, as lower interest rates weigh on future performance, we remain focused on executing against our strategic priorities to create long-term shareholder value without compromising our risk profile or balance sheet," he added.