Citigroup reported Tuesday quarterly results that easily beat analyst expectations, driven by strong fixed-income trading revenues along with growing sales from the bank’s consumer business.
Here’s what the banking giant reported vs. what Wall Street analysts expected:
- Earnings: $1.90 per share vs. $1.84 per share expected by Refinitiv
- Revenue: $18.378 billion vs. Refinitiv forecast of $17.855 billion
- Fixed income trading: $2.9 billion vs. FactSet estimate of $1.24 billion
- Equities trading: $516 million vs. $673.7 million forecast
The stock rose 1.9% in early trading Tuesday.
Citigroup’s bond-trading revenues represent a 49% surge from the year-earlier period. The bank said the strong results…