Earnings

Citigroup C earnings 1Q 2022

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Jane Fraser, CEO of Citigroup

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…



Source cnbc.com

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