Jane Fraser, CEO of Citigroup
Citigroup topped expectations for first-quarter profit and revenue on better-than-expected trading results as Wall Street benefited from surging volatility tied to the Ukraine war.
The company’s stock closed up 1.6% at $50.93. Despite already trading at the lowest valuation among peers, Citigroup shares have lost about 15% this year, compared with the nearly 12% drop in the KBW Bank Index.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $2.02 vs. $1.55 expected
- Revenue: $19.19 billion vs. $18.15 billion expected
The bank said Thursday that earnings fell 46% to…