Citigroup Beats On Q2, Shows Resilience Across Business Segments
Portfolio Pulse from Anusuya Lahiri
Citigroup Inc reported a Q2 FY23 net revenue of $19.44 billion, a 1% decline YoY but beating the consensus of $19.27 billion. EPS was $1.33, above the consensus of $1.30. Institutional Clients Group revenue decreased by 9% YoY, while Personal Banking and Wealth Management revenue increased by 6% YoY. Net income for the quarter was $2.9 billion, down 36% YoY. Citigroup's shares are trading higher by 1.4% premarket.
July 14, 2023 | 1:06 pm
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Citigroup's Q2 FY23 results beat consensus estimates, with net revenue of $19.44 billion and EPS of $1.33. Despite a YoY decline in net revenue and net income, the company's shares are trading higher premarket.
Citigroup's Q2 FY23 results exceeded consensus estimates, which is a positive signal to investors and likely the reason for the premarket increase in the company's share price. However, the YoY decline in net revenue and net income could potentially impact the company's stock performance in the short term.
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