2023-04-14 08:01:47 ET
- Citigroup press release ( NYSE: C ): Q1 Non-GAAP EPS of $1.86 beats by $0.17 .
- Revenue of $21.4B (+12% Y/Y) beats by $1.34B .
- Revenues increased 12% from the prior-year period and 6% excluding the divestiture related impacts, as growth in net interest income was partially offset by lower non interest revenues
- Citigroup cost of credit was approximately $2.0 billion in the first quarter 2023, compared to $0.8 billion in the prior-year period, reflecting a net build in the allowance for credit losses ( ACL ) for loans and unfunded commitments of $241 million and other provisions of $432 million, primarily driven by macroeconomic deterioration and growth in card revolving balances in PBWM.
- Shares +3.2% PM.
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Citigroup Non-GAAP EPS of $1.86 beats by $0.17, revenue of $21.4B beats by $1.34B