Citigroup tops estimates for first-quarter revenue on better-than-expected Wall Street results
Publishing timestamp: 2024-04-12 13:20:02
Summary
Citigroup reported a 27% drop in profit due to higher expenses and credit costs, but revenue topped analysts' estimates thanks to strong performance in investment banking and trading operations. The bank also posted gains in its Services division. Shares fell 2% after the earnings release. CEO Jane Fraser announced completion of a corporate overhaul and reiterated medium-term targets for returns and revenue.
Sentiment: MIXED
Keywords: citigroup inc, banks, jpmorgan drn, goldman sachs group inc, business, earnings, wall street, breaking news: investing, investment strategy, breaking news: markets, breaking news: earnings, business news,
Source: https://www.cnbc.com/2024/04/12/citigroup-c-earnings-q1-2024.html