Categories AlphaGraphs, Earnings, Finance

Earnings: Citigroup (C) Q2 profit beats estimates; revenue up 11%

Banking giant Citigroup Inc. (NYSE: C) on Friday said its second-quarter profit decreased despite a double-digit increase in revenues. However, the numbers topped the market’s projections.

Second-quarter net profit declined to $4.5 billion or $2.19 per share from $6.2 billion or $2.85 per share last year but came in above the consensus forecast.

Meanwhile, total revenues moved up 11% annually to $19.6 billion and topped expectations, reflecting active customer engagement amid increased consumer and corporate confidence. At $92.95, book value per share was up 2% year-over-year.


Read management/analysts’ comments on Citigroup’s Q2 earnings


Shares of Citigroup made strong gains early Friday immediately after the announcement. The stock has dropped about 34% in the past twelve months.

Prior Performance

_________________________________________________________________________________________________________________

Stocks you may like:

Bank of America (BAC) Stock

Wells Fargo (WFC) Stock

JPMorgan Chase (JPM) Stock

Citigroup (C) Stock

Goldman Sachs (GS) Stock

Morgan Stanley (MS) Stock

_________________________________________________________________________________________________________________

Most Popular

KR Earnings: Kroger Q3 sales, profit increase and top expectations

Department store chain The Kroger Co. (NYSE: KR) on Thursday said its third-quarter sales and adjusted earnings increased year-over-year. The latest numbers also exceeded the market's expectations. Net earnings attributable to

CrowdStrike: Why this cybersecurity stock is a good investment for 2023

CrowdStrike Holdings, Inc. (NASDAQ: CRWD) has steadily expanded its subscriber base over the years, riding the ever-growing demand for cybersecurity solutions. As digital adoption continues -- which accelerated after the

CRM Results: Salesforce Q3 earnings beat; revenues rise 14%

Customer relationship management platform Salesforce, Inc. (NYSE: CRM) on Wednesday reported an increase in third-quarter adjusted earnings, aided by double-digit growth in revenues. The numbers surpassed analysts' predictions. Third-quarter profit,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top