Citigroup reported its best quarterly revenue in a decade and a 56% year-over-year jump in earnings per share.
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Citigroup
beat on the top and bottom lines during the first quarter.
Here’s what the firm reported on Tuesday, compared with Wall Street estimates compiled by LSEG:
Those results marked the firm’s best quarterly revenue in a decade and a 56% year-over-year jump in earnings per share.
Citi's net income rose 15% to $3.8 billion from a year earlier, while revenues were up 9% as every business posted record numbers.
Under CEO Jane Fraser, Citigroup is in the midst of a restructuring, selling off parts of its overseas operations.
JPMorgan's new price target implies that shares of Citigroup could rise 11% from here.
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Citigroup raised its year-end target for the broad measure of the entire U.S. stock market, the S&P 500 index.
