US EditionCitigroup profit jumps as market volatility drives trading windfall
UNITED STATES, JUL 16 – Citigroup's 25% net income rise was driven by a 16% jump in markets revenue and strong IPO and deal activity despite regulatory challenges, CEO Jane Fraser said.
- Citigroup's profit increased in the second quarter, reaching $4 billion, resulting in $1.96 per share.
- Total net income rose 25% compared to last year, indicating robust growth for the company.
- Revenue jumped 8% to $21.7 billion, achieving second-quarter records for several business areas.
- Markets revenue surged 16% to $5.9 billion, showcasing strong performance in turbulent markets.
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Citigroup shares hit highest since 2008 after profit beat, buyback plan
Citigroup's shares briefly touched their highest since the 2008 financial crisis after the bank beat Wall Street estimates for second-quarter profit and said it plans to buy back at least $4 billion in stock.
·United Kingdom
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Colorado Springs Gazette+2 Reposted by 2 other sources
Citigroup profit beats estimates on trading, deals windfall
By Tatiana Bautzer and Manya Saini
·Colorado Springs, United States
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Total News Sources23
Leaning Left2Leaning Right0Center8Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
L 20%
C 80%
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