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