Categories AlphaGraphs, Earnings, Finance
A visual representation of Citigroup (C) Q1 2020 earnings results
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.
Past Performance
Most Popular
What awaits MongoDB (MDB) after the much-awaited turnaround?
MongoDB, Inc. (NASDAQ: MDB), the tech firm that pioneered a new method for creating databases, enables developers to work with high volumes of varied data effortlessly. The company this week
Earnings: A snapshot of GameStop’s Q3 2022 financial performance
GameStop Corp. (NYSE: GME) reported a narrower net loss for the third quarter of 2022 despite the gaming company’s sales decreasing year-over-year. The company reported a net loss of $94.7 million
Here’s why Signet Jewellers (SIG) is confident about its long-term growth opportunity
Shares of Signet Jewelers Limited (NYSE: SIG) were up 5% on Wednesday. The stock has gained 32% over the past three months. A day ago, the company delivered better-than-expected earnings
