Citigroup (NYSE: C) reported its financial results for the quarter ended March 31, 2020 today.
Citigroup reported a 46% dip in earnings for the first quarter of 2020 due to higher credit reserve build. However, the top-line increased by 12% reflecting higher revenues in Fixed Income Markets and Equity Markets, and the benefit of mark-to-market gains on loan hedges in the corporate lending portfolio.
The bottom line was hurt by higher loan loss reserves, reflecting the impact of changes in Citi’s economic outlook on estimated lifetime losses under the new Current Expected Credit Loss standard (CECL). The results were significantly impacted by the COVID-19 pandemic.
Biogen (NASDAQ: BIIB) reported third-quarter 2021 financial results before the regular market hours on Wednesday. The company reported Q3 revenue of $2.78 billion, down 18% year-over-year and higher than the
Verizon (NYSE: VZ) reported Third-quarter 2021 financial results before the regular trading hours on Wednesday. The telecommunications giant reported Q3 revenue of $32.9 billion, up 4.3% year-over-year and above the
Philip Morris International Inc. (NYSE: PM) reported Third-quarter 2021 earnings results today. Net revenues increased 9% year-over-year to $8.1 billion. The reported net income amounted to $2.42 billion compared to