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Citigroup earnings beat expectations on 49% fixed-income trading surge

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Citigroup reported Tuesday quarterly results that easily beat analyst expectations, driven by strong fixed-income trading revenues along with growing sales from the bank’s consumer business.

Here’s what analysts are expecting to see from the banking giant’s results:

  • Earnings: $1.90 per share vs. $1.84 per share expected by Refinitiv
  • Revenue: $18.378 billion vs. Refinitiv forecast of $17.855 billion
  • Fixed income trading: $2.9 billion vs. FactSet estimate of $1.24 billion
  • Equities trading: $516 million vs. $673.7 million forecast

The stock rose 1.2% after the results were released.

Citigroup’s bond-trading revenues represent a 49% surge from the year-earlier period. The bank said the strong…



Source cnbc.com

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