Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Citigroup tops estimates for first-quarter revenue, helped by trading results https://t.co/JLCpgcnm3T
Citigroup’s profit topped analysts’ estimates as corporations tapped markets for financing and consumers leaned on credit cards — signs that a prolonged period of elevated interest rates will benefit big banks. https://t.co/VcY2Yr08uY
$C Citigroup's profit fell in Q1 as it spent more on severance payments for laid-off employees and set aside money to refill a govt deposit insurance fund. Net income fell to $3.4b, or $1.58/share, in the three mos ended 3/31. $JPM $BAC $WFC https://t.co/kLZonYebhU https://t.co/1inM2nCWPu
Citigroup's profit in Q1 decreased due to higher spending on severance payments and deposit insurance fund replenishment. Net income was $3.4b, or $1.58/share. However, the company beat analyst estimates, with revenue boosted by trading results and increased debt issuance.