Financial services company Citizens Financial Group, Inc. (NYSE: CFG) on Wednesday reported an increase in second-quarter net income, aided by a modest increase in revenues.
- June quarter revenues advanced 5% year-over-year to $2.09 billion
- Net income, on a reported basis, came in at $478 million or $0.92 per share, compared to $364 million or $0.67 per share last year
- Underlying profit, excluding special items, was $531 million or $1.04 per share, compared to $595 million or $1.14 per share a year earlier
- The underlying efficiency ratio was 58.9% in Q2, compared to 58.2% in the second quarter of 2022
- Provision for credit losses totaled $176 million, down from $216 million reported last year
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
Nike (NKE) looks set to beat hurdles and build a brighter future
Nike, Inc. (NYSE: NKE) has long been ruling the sportswear market but the company had its share of problems when headwinds like the pandemic and economic slowdown hit the business
Electronic Arts (EA): A few points to keep in mind if you have an eye on this gaming company
Shares of Electronic Arts Inc. (NASDAQ: EA) stayed green on Friday. The stock has dropped 7% over the past three months. The video game industry has been facing challenges as
Petros Pharma is focused on establishing mechanisms for Rx-to-OTC switch: CCO Fady Boctor
Petros Pharmaceuticals, Inc. (NASDAQ: PTPI) is a pharma company focused on identifying, developing, and commercializing therapeutics for men's health issues. It operates mainly through the business segments of Prescription Medications
