Tuesday, 25 June 2019 07:27 GMT
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Citigroup Out with Q1 Results




(MENAFN - Baystreet.ca)

Citigroup (NYSE:C) joined several of its peers by reporting first-quarter results on Monday, results which proved mixed, with its earnings topping expectations while its overall revenue missed.

Earnings came in at $1.87 per share vs $1.80 expected by experts. Revenue was $18.576 billion vs $18.634 billion forecast.

Equities trading registered at $842 million vs $930 million. Investment banking revenue was $1.354 billion vs $1.2 billion forecast.

The results follow Thursday's retirement of President Jamie Forese, who was considered a potential successor to CEO Michael Corbat.

Citigroup shares have been on fire this year, rallying nearly 30% in that time period. The stock is also outperforming peers like J.P. Morgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), Morgan Stanley (NYSE:MS), and Bank of America (NYSE:BAC).

The bank will hold its 2019 Annual Stockholders' Meeting on Tuesday morning at its Global Headquarters in New York.

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions.

Citi "provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management."

Shares in Citibank were sent earthward 75 cents, or 1.1%, to $66.67, within a 52-week trading range of $48.42 to $75.24.

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Citigroup Out with Q1 Results

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