Citigroup: 2Q Earnings Snapshot
Posted July 14, 2020 8:34 am.
Last Updated July 14, 2020 8:38 am.
This article is more than 5 years old.
NEW YORK (AP) _ Citigroup Inc. (C) on Tuesday reported second-quarter profit of $1.32 billion.
The New York-based bank said it had earnings of 50 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The U.S. bank posted revenue of $23.28 billion in the period. Its revenue net of interest expense was $19.77 billion, which also beat Street forecasts. Five analysts surveyed by Zacks expected $19.18 billion.
Citigroup shares have decreased 35% since the beginning of the year, while the Standard & Poor’s 500 index has fallen slightly more than 2%. The stock has decreased 27% in the last 12 months.
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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
