CEO of Citi, Jane Fraser during the panel on Tech and finance – tailwinds and headwinds at the Global Hong Kong Global Financial Leaders Investment Summit on November 7, 2023 in Hong Kong, China.
Vernon Yuen | Nurphoto | Getty Images
Citigroup on Friday posted second-quarter results that topped expectations for profit and revenue on a rebound in Wall Street activity.
Here’s what the company reported:
- Earnings: $1.52 a share vs. $1.39 a share LSEG estimate
- Revenue: $20.13 billion vs. $20.07 billion estimate
Citigroup was just this week rebuked for failing to address its regulatory shortfalls, so analysts will be keen to ask CEO Jane Fraser about her long-running efforts to address the issue.
Last year, Fraser announced plans to simplify the management structure and reduce costs at the third-biggest U.S. bank by assets. But earnings will take a backseat if the bank cannot appease regulators’ concerns about its data and risk management.
JPMorgan Chase reported results earlier Friday, while Goldman Sachs, Bank of America and Morgan Stanley report next week.
This story is developing. Please check back for updates.
