Categories AlphaGraphs, Earnings, Finance
Infographics: Citigroup (C) stock gains on strong Q1 earnings
Banking giant Citigroup Inc. (NYSE: C) reported a higher net profit for the first quarter of 2021, despite a decrease in revenues. The stronger-than-expected results triggered a rally, and the company’s stock gained early Thursday.
First-quarter net income rose to $7.9 billion or $3.62 per share from $2.5 billion or $1.06 per share a year earlier. It was above analysts’ forecast. Meanwhile, revenues dropped 7% annually to $19.3 billion but came in above the estimates.
“It’s been a better than expected start to the year, and we are optimistic about the macro environment. We are committed to serving our clients through the recovery and positioning the bank for a period of sustained growth,” said Citi’s CEO Jane Fraser.
Check management’s comments on Citigroup’s Q1 2021 earnings report
Citigroup’s stock made strong gains during Thursday’s premarket trading, after closing the previous session higher.
_________________________________________________________________________________________________________________
Stocks you may like:
_________________________________________________________________________________________________________________
Most Popular
QCOM Earnings: Qualcomm Q2 2024 revenue and profit beat Street view
Semiconductor company Qualcomm, Inc. (NASDAQ: QCOM) reported an increase in earnings and revenues for the second quarter of 2024. The numbers came in above analysts' estimates. At $9.39 billion, March-quarter
Key takeaways from Amazon’s Q1 2024 earnings report
Amazon.com Inc. (NASDAQ: AMZN) had an upbeat start to fiscal 2024, delivering strong growth across the business in the first three months of the year. While the cloud segment continues
Key takeaways from Pfizer’s (PFE) Q1 2024 earnings report
Shares of Pfizer Inc. (NYSE: PFE) gained over 5% on Wednesday following the company’s announcement of its first quarter 2024 earnings results. Although the top and bottom line numbers decreased