Citigroup shares rise after bank reports better-than-expected earnings on strong trading results
They Made Money from TRADING STOCK, AND BONDS, EVERYONE IS BUYING STOCKS. That's how they beat estimates
Citigroup reported on Tuesday second-quarter results that surpassed analyst expectations thanks in part to a massive surge in trading revenue that helped offset a slowdown in the company’s consumer banking business.
Here’s how the company’s results compared to analyst estimates:
Earnings: 50 cents per share vs 28 cents per share expected by Refinitiv
Revenue: $19.77 billion vs $19.12 billion forecast
Fixed income, currency and commodities trading revenue: $5.6 billion vs $4.86 billion forecast by FactSet