Citigroup (C) Tops Q1 EPS by 7c

Citigroup (NYSE: C) reported Q1 EPS of $1.68, $0.07 better than the analyst estimate of $1.61. Revenue for the quarter came in at $18.9 billion versus the consensus estimate of $18.86 billion.

Citi CEO Michael Corbat said, “Our first quarter results demonstrate strength and balance across our franchise and position us well for the rest of the year. We grew revenue across both our institutional and consumer businesses and delivered solid, client-led revenue gains in areas we have been investing in such as Citibanamex, TTS, Equities and the Private Bank. In addition to improving Citi’s return on capital, we maintained our focus on also improving Citi’s return of capital. During the quarter, we returned more than $3 billion in capital to common shareholders which helped drive a significant improvement in earnings per share. And we recently submitted our capital plan and believe we remain on track to meet the commitment we outlined at investor day of returning at least $60 billion over the 2017, 2018 and 2019 cycles, subject to regulatory approval.

“While market conditions have been uneven so far this year, our first quarter results show our ability to deliver for both clients and shareholders and we look forward to sustaining this momentum for the balance of the year,” Mr. Corbat concluded.

For earnings history and earnings-related data on Citigroup (C) click here.

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