Earnings

Citigroup (C) 2Q 2022 earnings beats

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Citigroup on Friday posted second-quarter results that beat analysts’ expectations for profit and revenue as the firm benefited from rising interest rates and strong trading results.

Here’s what the bank reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $2.19 vs $1.68 expected
  • Revenue: $19.64 billion vs $18.22 billion expected

Shares of the company surged 10.8% in New York trading, on track for the bank’s biggest post-earnings stock gain in more than two decades, according to Refinitiv data.

Profit declined 27% to $4.55 billion, or $2.19 per share, from $6.19 billion, or $2.85, a year earlier, the New York-based bank said in…



Source cnbc.com

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