Citigroup's strong financial performance in Q1 of fiscal 2025, with revenue and stock price growth.
From Yahoo Finance: 2025-04-15 11:24:00
Citigroup Inc. reported a 3% revenue growth in the first-quarter fiscal 2025, reaching $21.6 billion, beating analyst consensus. Earnings per share were $1.96, up from $1.58 last year. Net income rose to $4.1 billion, driven by lower expenses and higher revenues. Operating expenses fell by 5%.
Net interest income increased by 4%, while non-interest revenue went up by 1%. The return on average tangible common equity reached 9.1%, and the Common Equity Tier 1 Capital ratio was 13.4%. Services revenues increased by 3%, and Markets revenues grew by 12%.
Equity markets revenues increased by 23%, and Banking revenues grew by 12%. Investment Banking revenues increased by 12%. Wealth revenues rose by 24%, and USPB revenues increased by 2%. CEO Jane Fraser emphasized the bank’s capabilities in navigating uncertain environments.
Citigroup expects fiscal 2025 revenue to be around $83.1 billion-$84.1 billion, with expenses just shy of $53.4 billion. The company anticipates higher losses in the first half of the year, subject to changing conditions. Stock price increased by 2.57% to $64.85.
In conclusion, Citigroup’s strong financial performance in the first quarter of fiscal 2025 reflects growth across its various business segments. The company’s outlook for the year indicates confidence in its ability to navigate challenges and continue delivering value to shareholders.