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Citigroup (C) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.40 per share. This compares to earnings of $1.37 per share a year ago.
Shares of Citigroup (C) rose in premarket trading Friday after the bank's second-quarter profit beat analysts' estimates.
CNBC's Leslie Picker joins 'Squawk Box' to report on the bank's quarterly earnings results.
Citigroup Inc (NYSE:C) reported quarterly financials at the top end of Wall Street expectations, sparking an initial flurry before the stock dropped back in early deals. Second quarter revenue came in at $20.14 billion versus an analyst consensus forecast of $20.07 billion.
Stephen Biggar, Director of Financial Institutions Research at Argus Research, discusses earnings from JPMorgan, Wells Fargo, and Citigroup.
Citigroup said costs for the year are now likely to be at the high end of the range, but the firm notched gains in revenue across all five of its major divisions in the second quarter. Sonali Basak reports on Bloomberg Television.
Citigroup's profit rose in the second quarter, boosted by a 60% jump in investment banking revenue and gains in its services division, sending the bank's shares up 2% before the bell.
NEW YORK--(BUSINESS WIRE)--Today Citi reported second quarter 2024 results, which can be found on its website at https://www.citigroup.com/global/investors. A Quarterly Financial Data Supplement with additional financial, statistical and business-related information, as well as business and segment trends, is also available. Citi will host a conference call today at 11 a.m. (ET) to review these results. To attend the live webcast please visit https://www.veracast.com/webcasts/citigroup/webinars.
Citigroup was just this week rebuked for failing to address its regulatory shortfalls, so analysts will be keen to ask CEO Jane Fraser about her long-running efforts to address the issue. Last year, Fraser announced plans to simplify the management structure and reduce costs at the third-biggest U.S. bank by assets.
The U.S. regulators penalize Citigroup (C) for inefficient progress in data management issues. It follows the 2020 consent order requiring the bank to fix these issues via firm-wide adequate measures.