Categories AlphaGraphs, Earnings, Finance
Citigroup (C) reports lower revenue and profit for Q1 2024; results beat
Banking behemoth Citigroup Inc. (NYSE: C) Friday reported a decrease in revenue and net income for the first quarter of 2024. However, the numbers came in above analysts’ estimates.
Net profit for the March quarter was $3.4 billion or $1.58 per share, compared to $4.6 billion or $2.19 per share in the corresponding period last year. Earnings, meanwhile, topped expectations.
The bottom line was negatively impacted by higher expenses, higher cost of credit, and lower revenues. Total revenues decreased 2% annually to $21.1 billion but came in above consensus estimates.
“Last month marked the end to the organizational simplification we announced in September. The result is a cleaner, simpler management structure that fully aligns to and facilitates our strategy,” said Citi’s CEO Jane Fraser.
Prior Performance
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
Key highlights from Eli Lilly’s (LLY) Q1 2024 earnings results
Eli Lilly and Company (NYSE: LLY) reported first quarter 2024 earnings results today. Worldwide revenue was $8.77 billion, up 26% from the year-ago quarter, driven by increases of 16% in
PYPL Earnings: PayPal reports higher revenue and profit for Q1 2024
PayPal Holdings Inc. (NASDAQ: PYPL) announced financial results for the first quarter of 2024, reporting an increase in revenues and adjusted profit. The top line also exceeded analysts' estimates. First-quarter
MCD Earnings: Key quarterly highlights from McDonald’s Q1 2024 financial results
McDonald's Corporation (NYSE: MCD) reported first quarter 2024 earnings results today. Revenues increased 5% year-over-year to $6.1 billion. Revenue growth was 4% in constant currencies. Net income grew 7% to