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

Truist reported first-quarter adjusted earnings per share (EPS ) of $0.90, beating estimates, but revenue dropped 8.8% to $4.87 billion, short of forecasts.

Truist’s net interest income declined 4.2% to $3.43 billion, missing expectations, and net income margin slid 7 basis points (bps) . The bank blamed “lower earning assets and higher funding costs.” However, 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 Federal Deposit Insurance Corporation (FDIC) to help pay the costs of the federal takeover of failed banks.

Chief Executive Officer (CEO ) Bill Rogers explained that Truist faced muted loan demand while deposit costs continued to rise.

The company predicted full-year taxable-equivalent revenue to fall 4% to 5%, down from 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.