Citigroup (C) Tops Q2 EPS by 6c
Get Alerts C Hot Sheet
Revenue Growth %: -1.4%
Financial Fact:
Net interest revenue: 11.48B
Today's EPS Names:
WF, CWBC, GLTO, More
Join SI Premium – FREE
Citigroup (NYSE: C) reported Q2 EPS of $1.24, $0.06 better than the analyst estimate of $1.18. Revenue for the quarter came in at $17.5 billion versus the consensus estimate of $17.87 billion.
Michael Corbat, Chief Executive Officer of Citi, said, “These results demonstrate our ability to generate solid earnings in a challenging and volatile environment, again highlighting the resilience of our institution. Nearly all of our net income came from our core businesses and we continued to reduce non-core assets in Citi Holdings. We significantly improved our efficiency ratio, return on assets and return on tangible common equity from the first quarter. We also grew loans in both our consumer and institutional businesses, reduced expenses, and utilized additional deferred tax assets, bringing the total utilized to $10 billion over the last four years. This utilization fuels our ability to generate regulatory capital and, with the Fed’s non-objection to our capital plan, I am pleased that we will significantly increase the amount of capital returned to our shareholders over the next year.”
For earnings history and earnings-related data on Citigroup (C) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Alphabet stock surges 11% to record high on Q1 earnings beat, first-ever dividend
- T-Mobile (TMUS) and EQT Announce JV to Acquire Lumos
- European stocks rise, helped by positive global sentiment; NatWest gains
Create E-mail Alert Related Categories
Earnings, Hot Earnings, Management CommentsRelated Entities
Citi, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!