Citigroup Inc. said on Friday that its revenues in the second quarter of 2024 amounted to $20.1 billion, rising 4% compared to the same period a year earlier and matching analysts' expectations.
Net income jumped 10% year on year to $3.2 billion, or $1.52 per diluted share. Return on average common equity (ROE) rose from 5.6% in the second trimester of 2023 to 6.3% and CET1 Capital ratio was 13.6%.
"Our results show the progress we are making in executing our strategy and the benefit of our diversified business model. We achieved positive operating leverage with revenue up 4% and a 2% decline in expenses," CEO Jane Fraser stated.
Citigroup shares climbed 2% in premarket trading following the results announcement.
