Truist Financial Corporation shares rise 1.25% after-hours following strong Q2 earnings report.

Truist Financial Corporation rose 1.25% in after-hours trading, with the company reporting a rise in second-quarter profit, helped by higher interest income and friendlier comparisons to the year-ago period. The U.S. Federal Reserve's series of interest rate cuts during the second half of 2024 has spurred banks to actively reduce deposit costs across their portfolios. Truist's net interest income rose 1.7% to $3.59 billion from a year ago.