Citigroup Surprises with Strong Q1 Results, Shares Rise.
TL;DR Summary
Citigroup reported Q1 FY23 net revenue growth of 12% YoY to $21.45 billion, beating the consensus of $20.03 billion. Net interest income increased 23% YoY to $13.35 billion, and non-interest income decreased 3% YoY to $8.1 billion. EPS for Q1 was $2.19, above the consensus of $1.67. CEO Jane Fraser commented that the bank is committed to increasing the amount of excess capital it returns over time as well as delivering with excellence for its clients and shareholders.
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