Driven by stellar revenues, PNC Financial PNC delivered a positive earnings surprise of 3.3% in third-quarter 2018. Earnings per share of $2.82 beat the Zacks Consensus Estimate of $2.73. Moreover, the bottom line reflected a 30.6% jump from the prior-year figure.Continued easing of pressure on net interest margin led to higher net interest income during the reported quarter. Though mortgage banking revenues declined, overall non-interest income witnessed year-over-year growth. Lower provisions remained another tailwind. However, escalated costs hurt results to some extent.The company’s net income for the quarter came in at $1.4 billion, up 27.3% from the prior-year quarter.Segment wise, on a year-over-year basis, quarterly net income at Corporate & Institutional Banking, Asset Management Group and Retail Banking improved 26.7%, 29.8% and 22%, respectively. Also, net income for Other, including the BlackRock segment, increased 21.4%.Revenue Growth Offsets Higher ExpensesTotal revenues for the quarter came in at $4.36 billion, climbing 6% year over year. Also, the reported figure outpaced the Zacks Consensus Estimate of $4.32 billion. Net interest income jumped 5% from the year-ago quarter to $2.47 billion. Elevated loan, and securities yields and balances were partly mitigated by growth in deposit and borrowing costs. Additionally, net interest margin shrunk 8 basis points to 2.99%.Non-interest income was up 6% year over year to $1.89 billion, aided by higher asset management income, consumer services income, corporate services and service charges on deposits, partially offset by lower income from residential mortgage and other income.PNC Financial’s non-interest expenses totaled $2.6 billion, flaring up 6% from the year-ago tally. The upswing primarily stemmed from higher personnel and marketing-related costs.As of Sep 30, 2018, total loans inched up nearly 1% year over year to $223.1 billion. Also, total deposits improved 2% to $264.9 billion.Credit Quality ImprovesProvision for credit losses was $88 million, down 32% from $130 million reported in the prior-year quarter. Also, non-performing assets declined 12% to $1.83 billion. Further, net charge-offs fell 14% year over year to $91 million.Capital Position WeakensAs of Sep 30, 2018, the Basel III common equity Tier 1 capital ratio, effective Jan 1, 2018, was 9.3% compared with 9.8% as of Sep 30, 2017.Share RepurchaseIn the Sep-end quarter, PNC Financial repurchased 3.3 million common shares for $0.5 billion. Also, dividends of $0.4 billion were distributed.Our ViewpointPNC Financial displayed a splendid performance this season also. Increase in margins, owing to rising interest rates, along with improving lending scenario, are likely to support its top line, moving ahead. Furthermore, improvement in credit quality keeps us encouraged.The company is well poised to grow based on its diverse revenue mix. Also, the bank remains on track to execute its strategic goals, including technology initiatives, which bode well for the long term. The PNC Financial Services Group, Inc Price, Consensus and EPS Surprise The PNC Financial Services Group, Inc Price, Consensus and EPS Surprise | The PNC Financial Services Group, Inc QuoteCurrently, PNC Financial carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Among other major banks, Bank of America Corporation BAC is scheduled to report third-quarter results on Oct 15, Goldman GS on Oct 16, while U.S. Bancorp USB will report on Oct 17.The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The PNC Financial Services Group, Inc (PNC): Free Stock Analysis Report Bank of America Corporation (BAC): Free Stock Analysis Report U.S. Bancorp (USB): Free Stock Analysis Report The Goldman Sachs Group, Inc. (GS): Free Stock Analysis Report To read this article on Zacks.com click here.