2024-04-12 14:54:39 ET
Summary
- Citigroup reported strong Q1 results, beating market expectations on both GAAP EPS and revenue.
- The bank's CET1 ratio of 13.5% and the improving trajectory demonstrate its financial strength and can support growth opportunities.
- Reasonable valuations (especially in terms of the P/TBV ratio) and generous capital returns provide further downside protection.
Q1 highlights
Citigroup Inc. ( C ) reported its 2024 Q1 earnings on Friday morning, April 12. The results are quite strong, in my view, beating market expectations on both lines. To wit, its GAAP EPS dialed in at $1.58, beating market expectations by $0.41. Its revenue came in at $21.1B, beating market expectations by $700M....
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Citigroup Q1 Earnings: A Good Bank For Sale At 0.7x TBV