Citigroup: 1Q Earnings Snapshot
Posted Apr 15, 2020 09:17:59 AM.
Last Updated Apr 15, 2020 09:24:06 AM.
This article is more than 5 years old.
NEW YORK (AP) _ Citigroup Inc. (C) on Wednesday reported first-quarter profit of $2.52 billion.
The bank, based in New York, said it had earnings of $1.05 per share. Earnings, adjusted to account for discontinued operations, were $1.06 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The U.S. bank posted revenue of $26.38 billion in the period. Its revenue net of interest expense was $20.73 billion, also beating Street forecasts. Four analysts surveyed by Zacks expected $19.08 billion.
Citigroup shares have declined 43% since the beginning of the year, while the Standard & Poor’s 500 index has dropped 12%. The stock has declined 33% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on C at https://www.zacks.com/ap/C
The Associated Press
