Citigroup posts revenue decline in first quarter, but profit tops estimates [MarketWatch]
Citigroup, Inc. (C)
Last citigroup, inc. earnings: 4/15 08:00 am
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Source: MarketWatch
Citigroup posts revenue decline in first quarter as profit tops estimates Citigroup Inc. shares C, +2.29% were slightly higher in premarket trade Monday, after the bank posted a decline in revenue for the first quarter. The company said it had net income of $4.7 billion, or $1.87 a share, in the quarter, up from $4.6 billion, or $1.68 a share, in the year-earlier period. Revenue came to $18.6 billion, down from $18.9 billion a year ago. The FactSet consensus was for EPS of $1.80 and revenue of $18.6 billion. "Both our consumer and institutional businesses performed well and we saw good momentum in those areas where we have been investing, such as U.S. Branded Cards, Treasury and Trade Solutions, and Investment Banking," Chief Executive Michael Corbat said in a statement. Global consumer banking revenue edged up to $8.451 billion from $8.426 billion, institutional clients group revenue fell to $9.694 billion from $9.855 billion and corporate/other revenue came to $431 million, down
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