Citigroup (C) Tops Q2 EPS by 11c
Citigroup (NYSE: C) reported Q2 EPS of $1.45, $0.11 better than the analyst estimate of $1.34. Revenue for the quarter came in at $19.2 billion versus the consensus estimate of $19.11 billion.
Michael Corbat, Chief Executive Officer of Citigroup, said, “Our results for the quarter show very balanced performance across our business lines. We grew loans and deposits in constant dollars in Global Consumer Banking, while also gaining wallet share among target clients in our Institutional Clients Group. Citi Holdings remained profitable and we again reduced its assets, having completed the sales of additional consumer businesses. As we increased our capital return, we still continued to grow our regulatory capital, raising our Common Equity Tier 1 Capital ratio to 11.4%. Through active expense and balance sheet discipline, we are on track to reach our financial targets for the year.”
Citigroup’s book value per share was $68.27 and tangible book value per share was $59.18, each as of quarter end, representing 2% and 4% increases, respectively, compared to the prior year period. At quarter end, Citigroup’s Common Equity Tier 1 Capital ratio was 11.4%, up from 10.6% in the prior year period. Citigroup’s Supplementary Leverage Ratio for the second quarter 2015 was 6.7%, up from an estimated 5.8% in the prior year period. During the second quarter 2015, Citigroup repurchased approximately 28 million common shares and returned a total of $1.7 billion to common shareholders in the form of share repurchases and common stock dividends.
For earnings history and earnings-related data on Citigroup (C) click here.
