Shares of Citigroup Inc. (C) are rising more than 8% Friday morning after reporting better-than-expected second-quarter results.
Net income in the second quarter declined to $4.547 billion or $2.30 per share from $6.193 billion or $2.85 per share a year ago.
Revenues, net of interest expense for the quarter, however, increased to $19.638 billion from $17.73 billion last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.68 per share on revenue of $18.22 billion for the quarter.
Net credit losses declined to $850 million from $1.32 billion last year.
C, currently at $47.74, has traded in the range of $43.44-$74.64 in the last 1 year.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.