Earnings: Citigroup (C) Q2 profit, revenue beat estimates

Citigroup Inc. (NYSE: C) on Friday reported lower earnings and revenues for the second quarter of 2023. The results, however, exceeded analysts’ forecasts. The banking behemoth reported a net income of $2.9 billion or $1.33 per share for the June quarter, compared to $4.5 billion or $2.19 per share in the corresponding period of last […]

July 14, 2023 1 min read

Citigroup Inc. (NYSE: C) on Friday reported lower earnings and revenues for the second quarter of 2023. The results, however, exceeded analysts’ forecasts. The banking behemoth reported a net income of $2.9 billion or $1.33 per share for the June quarter, compared to $4.5 billion or $2.19 per share in the corresponding period of last […]

Citigroup Inc. (NYSE: C) on Friday reported lower earnings and revenues for the second quarter of 2023. The results, however, exceeded analysts’ forecasts.

Citigroup Q2 2023 earnings infographic

The banking behemoth reported a net income of $2.9 billion or $1.33 per share for the June quarter, compared to $4.5 billion or $2.19 per share in the corresponding period of last year. The latest number came in above Wall Street’s projection. Total revenues decreased 1% annually to $19.40 billion but exceeded estimates.

“Amid a challenging macroeconomic backdrop, we continued to see the benefits of our diversified business model and strong balance sheet,” said Citi’s CEO Jane Fraser.