earnings
confidence high
sentiment positive
materiality 0.80
Citigroup Q2 net income $3.2B ($1.52 EPS), revenue $20.1B up 4%; dividend raised 6%
CITIGROUP INC
2024-Q2 EPS reported
$3.10
revenue$41,243,000,000
- Net income $3.2B vs $2.9B YoY; diluted EPS $1.52 vs $1.33; revenue $20.1B (+4% reported, +3% ex-divestitures).
- Operating expenses down 2% to $13.4B; cost of credit up 36% to $2.5B on higher card net credit losses.
- CET1 ratio 13.6% (up 10 bps QoQ); dividend increased 6%; returned ~$1.0B in common dividends.
- Banking revenue +38%, Equities +37% (derivatives), Services net income +21% to $1.47B.
- Included ~$400M Visa B exchange gain; FRB/OCC civil money penalties in expenses.