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:
_________________________________________________________________________________________________________________
Most Popular
CAT Stock: Here’s what you need to know before investing in Caterpillar
After beating the virus-induced slowdown, excavator company Caterpillar Inc. (NYSE: CAT) is currently battling high operating costs and supply constraints that offset benefits of the demand recovery spurred by market
eBay (EBAY): A look at this ecommerce company’s expectations for the rest of the year
Shares of eBay Inc. (NASDAQ: EBAY) were up over 1% on Friday. The stock has dropped 25% year-to-date and 33% over the past 12 months. Last week, the company delivered
Stock Watch: Why General Motors (GM) is a good buy after earnings
When the COVID crisis battered the business world a couple of years ago, General Motors Company (NYSE: GM) was not spared, though the impact was not as big as initially