Citigroup Beat Estimates—Sequential Decline in Banking, Trading
Citigroup (C) reported its second-quarter earnings today. The bank beat EPS estimates of $1.56 with EPS of $1.63, helped by a lower-than-expected decline in the global banking business and trading activity sequentially. It managed revenue growth of 2% on a year-over-year basis, mainly due to 2% growth in banking and 3% growth in trading, investment banking, and asset management.