Shares of Truist Financial (TFC) advanced Monday as the financial services provider posted a quarterly profit beat, but warned about revenue the reꩲst of the year.

Truist reported first-quarter adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $0.90, beating estimates, but revenue dropped 8.8% to $4.87 billion, short of forecasts.

Truist’s 澳洲幸运5官方开奖结果体彩网:net interest income declined 4.2% to $3.43 billion, missing expectations, and net income margin slid 7 澳洲幸运5官方开奖结果体彩网:basis points (bps). The bank blamed “lowe♓r earning assets and higher funding costs.” How🅺ever, noninterest income jumped 6.1% to $1.45 billion on higher investment banking and trading income.

The company also paid $75 million in a special assessment by the 澳洲幸运5官方开奖🔜结果体彩网:Federal Deposit Insuran💝ce Corporation (FDIC) to help pay the costs of the🐻 federal takeover of failed banks. 

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Bill Rogers explained that Truist faced muted loan demand while depos🐼it costs contin🅠ued to rise. 

The company predicted full-year taxable-equivalent revenue to fall 4% to 5%, down frꦆom its previous outlook of a dip of 1% to 3%.

Truist Financial shares were up 1.9% to $37.50 as of 11:13 a.m. ET Monday.