Citigroup Shares Up 13% on Strong Q2 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/C'>Citigroup Inc. (NYSE:C)</a> shares rose more than 13% on Friday following the company’s reported Q2 results, with EPS of $2.19 coming in better than the Street estimate of $1.65. Revenue was $19.6 billion, beating the Street estimate of $18.35 billion.</p>
<p>The company’s total IB revenues rose 6% year-over-year during Q2, due to a 25% rise in markets revenues, partially offset by a 46% fall in IB fees. Quarterly net interest income rose 9% quarter-over-quarter. While much of this strength came from the bank’s trade and treasury business, due to higher interest rates, consumer developments were also reassuring. In particular, branded card loans grew by 5% quarter-over-quarter and interest yields on these loans rose.</p>
<p>However, risks to the business remain elevated, given general economic uncertainties. For instance, the company must confront regulatory headwinds, strategic change and non-core business disposals (including Russia).</p>

NYSE:C