FTXO - Citigroup's Q1 Revenue Dips Slightly But Investment Banking and Personal Finance Shine | Benzinga
Citigroup Inc C reported a first-quarter fiscal 2024 revenue decline of 2% year-over-year to $21.10 billion, beating the consensus of $20.39 billion. GAAP EPS of $1.58 beat the consensus of $1.20.
Net credit losses for the fourth quarter were $2.30 billion, up 77% year-over-year.
Services revenue grew 8% year over year to $4.77 billion, mainly due to higher net interest income across Treasury and Trade Solutions (TTS) and Security Services.
Markets revenue declined by 7% Y/Y to $5.38 billion, driven by a decline in Fixed Income.
Banking revenue increased 49% Y/Y to $1.71 billion, driven by Investment Banking fees.
U.S. Personal Banking revenue grew 10% Y/Y to ...