Citigroup (NYSE:C) starts off its earnings report for the second quarter of the year with earnings per share of $1.95. This is an increase over the company’s earnings per share of $1.63 reported in the same period of the year prior. That has it beating out Wall Street’s earnings per share estimate of $1.81 for the quarter.
Net income reported in the most recent Citigroup earnings release comes in at $4.80 billion. The financial company’s net income from the second quarter of 2018 was $4.71 billion.
The Citigroup earnings report for the second quarter of 2019 also includes operating income of $4.79 billion. This is up from the company’s operating income of $4.74 billion reported during the same time last year.
Citigroup earnings for the second quarter of the year have revenue coming in at $18.76 billion. That’s better than the company’s revenue of $18.58 billion reported in the second quarter of the previous year. This has it coming in above analysts’ revenue estimate of $18.49 billion for the period.
Citigroup notes that its revenue increase for the quarter was due to its investment in electronic trading platform Tradeweb. This investment landed the company a $350 million pre-tax gain. It is also partially behind its higher net income for the quarter.
C stock has been on a roller coaster ride this morning. It was initially down to as much as a 1% before climbing back up to slightly above Friday’s close. Now the stock is largely unmoved from its previous closing price.
source: yahoo finance