Categories AlphaGraphs, Earnings, Finance

Citigroup (C) Q2 earnings drop but beat estimates

Banking giant Citigroup Inc. [NYSE: C] reported a sharp fall in first-quarter earnings, despite a modest increase in revenues. The results topped the Street view and the company’s stock gained early Tuesday.

Citigroup Q2 2020 earnings infographic

Net income dropped to $1.3 billion or $0.50 per share from $4.8 billion or $1.95 per share in the second quarter of 2019 but exceeded the market’s prediction.

At $19.8 billion, revenues were up 5% year-over-year, mainly due to higher revenues in Fixed Income Markets and Investment Banking that was partially offset by lower revenues in Global Consumer Banking. Analysts were looking for a smaller top-line number.

Looking forward to listening to management/analysts’ comments on Q2 results? Stay tuned here for Citigroup Q2 2020 earnings call transcript  

Citi’s stock gained during the premarket session on Tuesday, after closing the previous session lower.

Most Popular

Lyft (LYFT) expects average ride volumes to improve through Q1 2021

Shares of Lyft Inc. (NASDAQ: LYFT) were up 8% in afternoon hours on Wednesday. The stock has gained 53% over the past 12 months and 25% since the beginning of

With new strategy in place, Target looks poised to tap growing online demand

Department store chain Target Corp. (NYSE: TGT), which has been thriving on the pandemic-driven shopping boom since early last year, maintained its strong performance during the holiday season and entered

Infographic: Dollar Tree’s (DLTR) performance in Q4

Dollar Tree (NYSE: DLTR) reported fourth-quarter financial results before the opening bell on Wednesday. The discount store reported a 7% increase in Q4 net sales to $6.7 billion. The company

Add Comment
Viewing Highlight