citigroup earnings surge on lower legal costs
Monday 3 March 2025
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Citigroup earnings surge on lower legal costs

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Citigroup earnings surge on lower legal costs

Citigroup
New York - AFP

Citigroup reported a big jump in second-quarter earnings Thursday on much lower legal costs and slightly higher revenues.

Earnings for the quarter ending June 30 were for $4.8 billion, up from just $181 million in the year-ago period. The 2014 quarter was marred by a $3.7 billion legal charge to settle mortgage securities litigation.

Adjusted earnings translated into $1.51 per share, better than the $1.34 projected by Wall Street analysts.

Revenues rose 0.2 percent to $19.47 billion.

Citigroup suffered a modest drop in its bond trading division and slightly lower investment banking revenues due to lower corporate advising on mergers and other transactions. Those declines were partially offset by higher debt underwriting revenues.

In its global consumer banking division, revenues fell 4.4 percent to $8.5 billion, with higher North American revenues and lower international sales.

Results in this business were boosted by a 10 percent drop in operating expenses to $4.6 billion following efficiency moves.

"Our results for the quarter show very balanced performance across our business lines," said Citigroup chief executive Michael Corbat in a statement.

"We grew loans and deposits in constant dollars in Global Consumer Banking, while also gaining wallet share among target clients in our Institutional Clients Group."

Citigroup shares rose 2.5 percent ot $57.85 in pre-market trade.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

citigroup earnings surge on lower legal costs citigroup earnings surge on lower legal costs

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

citigroup earnings surge on lower legal costs citigroup earnings surge on lower legal costs

 



GMT 10:31 2014 Tuesday ,23 December

Mirages of failure: Lebanon cannot wait

GMT 05:17 2024 Wednesday ,07 February

Amazon to open first cashierless shop

GMT 06:15 2018 Tuesday ,23 January

Volkswagen clinches record sales

GMT 09:54 2018 Wednesday ,24 January

'Friendly and kind' N. Korean skaters

GMT 16:34 2017 Friday ,21 July

Scores of mercenaries killed in Shabwah

GMT 09:48 2017 Wednesday ,02 August

Top three yoga poses activity of the brain

GMT 18:21 2012 Tuesday ,28 February

You are not ugly, so don\'t make those videos

GMT 08:13 2017 Saturday ,27 May

Women for Afghan Women honours

GMT 03:28 2012 Thursday ,05 April

Would you eat your own placenta?

GMT 20:00 2017 Thursday ,29 June

Firefighters control Sharjah fire

GMT 03:48 2014 Thursday ,06 February

How to save a relationship

GMT 08:11 2017 Wednesday ,25 October

AGU discusses cooperation with Chinese Jinan University
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice