Citigroup Surges on Decade-High Revenue and ROTCE Beat

Citigroup posted its best quarterly revenue in a decade and a 56% year-over-year rise in EPS for Q1 2026, with revenue of $24.63 billion and EPS of $3.06, beating estimates. ROTCE rose to 13.1%, above the 10–11% target, and CEO Jane Fraser said Citi is on track to hit the ROTCE goal this year as it completes the final phase of divestitures. The results were driven by a strong markets division (fixed income up 13% to $5.2B; equities up 39% to $2.1B), with services revenue up 17% to $6.1B; wealth and U.S. cards benefited from CitiGold and retail initiatives. Credit losses provisions were higher, and expenses rose about 7% due to severance and FX translation. Citi remains the best-performing large bank stock YTD but faces geopolitical risk and ongoing regulatory consent orders expected to wrap up this year.