Citigroup (C) Reports 8% Revenue Growth, Earnings Up 35% Amid Layoffs
Published on · Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowCitigroup Inc. (C) reported 8% revenue growth and a 35% increase in earnings per share, excluding a one-time charge from the sale of its Russian operations. The bank showed a 14% rise in interest income, surpassing expectations. Despite reporting good results, the stock did not react positively amid overall market declines. CEO Jane Fraser noted that the bank's transformation efforts are over 80% complete and included plans for layoffs and AI adoption. This performance is significant as it reflects the bank's ongoing recovery and market position relative to peers.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Citigroup Inc. (C)
Citigroup is a global bank with consumer and institutional operations across many countries.
The Financials sector covers banks, insurers and capital-markets firms at the center of the economy.
Earlier C news
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- Wall Street Banks Trading Revenues Could Hit $40bn
- Citigroup (C) Stock Hits 52-Week High of 125.17 USD
- Citi Backs European Bank Stocks Post Sell-off Amid Market Volatility
- Citigroup Lowers Price Target on SL Green Realty (SLG) to $45
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