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Citigroup tops analysts’ estimates for earnings and revenue in the first quarter

Citigroup tops analysts’ estimates for earnings and revenue in the first quarter
Finance & banking
Wajeeh Khan
Author
Wajeeh K.
Apr 15, 2020, 08:49 AM
  • Citigroup generates £16.59 billion in revenue in Q1 and makes 84 pence of earnings per share.
  • The investment bank records a 39% increase each in fixed income and equity trading.
  • Citigroup sets aside roughly £4 billion for an expected surge in loan defaults.

Citigroup (NYSE:C) is the next in line to have revealed its financial performance in the first quarter on Wednesday. The American multinational investment bank topped analysts’ estimates for earnings and revenue in Q1 but was still reported 3% down in premarket trading on Wednesday.

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