logo
  

Citigroup Q1 Profit Beats Estimates - Quick Facts

Citigroup Inc. (C) reported first quarter earnings per share of $1.05 compared to $1.87, prior year. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $1.04, for the quarter. Analysts' estimates typically exclude special items. Net income was $2.5 billion, declined 46% driven by the higher cost of credit, partially offset by the higher revenues and a lower effective tax rate.

First quarter revenues were $20.7 billion, up 12% primarily reflecting the higher revenues in Fixed Income and Equity Markets, as well as the benefit of mark-to-market gains on loan hedges in Corporate Lending. Analysts expected revenue of $19.01 billion for the quarter.

Citigroup's end-of-period deposits were $1.2 trillion as of quarter end, an increase of 15% from the prior-year period. In constant dollars, end-of-period deposits increased 17%.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Asweets Global Inc. is recalling about 2,000 units of Wonder & Wise Activity Tables for potential risk of choking hazard to young children, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the screws of the tables can become loose and/or detach from the xylophone component of the activity tables to pose a choking hazard to young children. Chinese e-commerce giant Alibaba Group Holdings Ltd. (BABA) reported Thursday a net loss for the fourth quarter that sharply widened from last year, despite 9 percent growth in revenues, hurt by a decreases in the market prices of our equity investments in publicly-traded companies. Omni-channel fashion retailer Macy's, Inc. (M) reported Thursday a first-quarter net income of $286 million or $0.98 per share, sharply higher than $103 million or $0.32 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter was $315 million or $1.08 per share, compared...
Follow RTT