Banking giant Citigroup Inc. (NYSE: C) reported higher revenues and earnings for the second quarter of fiscal 2025. The numbers also exceeded Wall Street’s estimates.
Net income increased to $4.0 billion or $1.63 per share in the June quarter from $3.2 billion or $1.52 per share in the corresponding period last year. Earnings exceeded analysts’ estimates.
Second-quarter revenues rose to $21.7 billion from $20.0 billion in the prior year quarter and beat estimates. The growth was driven by increases in each of the bank’s five interconnected businesses, partially offset by a decline in ‘other’ segments.
Book value per share was $106.94 at quarter end, up 7% from the prior-year period. Tangible book value per share rose 8% annually and came in at $94.16 at quarter end.
“We’re improving the performance of each of our businesses to take share and drive higher returns. With revenue up 8%, Services continues to show why this high-return business is our crown jewel. Markets had its best second quarter performance since 2020 with a record second quarter for Equities,” Citigroup’s CEO Jane Fraser said.
