Citigroup Inc. (C) has reported a notable uptick in its second-quarter profits compared to the same period last year, surpassing Wall Street forecasts.
The financial giant posted a net income of $3.22 billion, translating to $1.52 per share. This marks an improvement from the previous year's second-quarter figures of $2.92 billion, or $1.33 per share.
Wall Street analysts, as polled by Thomson Reuters, had predicted an average earnings figure of $1.39 per share, typically excluding any special items.
Furthermore, the company's quarterly revenue experienced a 3.6% increase, rising to $20.14 billion from last year's $19.44 billion.
Key Financial Highlights (GAAP) for Citigroup Inc.:
- Second Quarter Earnings: $3.22 billion, compared to $2.92 billion last year.
- Second Quarter EPS: $1.52, up from $1.33 in the previous year.
- Second Quarter Revenue: $20.14 billion, an increase from last year's $19.44 billion.
