Citigroup C Q2 earnings report 2023


Citigroup posts better-than-expected earnings and revenue, shares rise

Citigroup on Friday reported second-quarter earnings and revenue that topped expectations.

Despite the beat, Citi’s revenue fell 1% from a year ago as the decline in markets and investment banking businesses weighed on its results. Citi said the uncertain macroenvironment and low volatility impacted client activity and market performance.

“Amid a challenging macroeconomic backdrop, we continued to see the benefits of our diversified business model and strong balance sheet,” CEO Jane Fraser said in a statement.

Here’s how the New York-based lender fared in the quarter compared with what analysts polled by Refinitiv expected from the banking giant.

  • Earnings per share: $1.33 vs. $1.30
  • Revenue:…

Source cnbc.com

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