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Citigroup Second-Quarter Results Top Estimates Amid Double-Digit Revenue Growth Across Most Segments

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Citigroup Second-Quarter Results Top Estimates Amid Double-Digit Revenue Growth Across Most Segments

Citigroup (C) reported stronger-than-expected second-quarter financial results Tuesday, driven by double-digit revenue growth across four of its five primary business segments.

Earnings rose to $3.15 a share for the June quarter from $1.96 a year earlier, exceeding the FactSet-polled consensus of $2.74. Net revenue grew 14% to $24.77 billion, ahead of the Street's $23.74 billion view.

"With net income up 45%, this was Citi's best quarterly revenue in a decade with double-digit revenue growth for the firm and in four out of our five businesses," Chief Executive Jane Fraser said in a statement Tuesday.

Citigroup shares were up 2% in Tuesday trade and have gained 21% this year.

Markets revenue rose 17% to $7.01 billion as equity market revenue surged 45% year over year to $2.30 billion.

Services business revenue climbed 18% to $6.38 billion amid an 18% gain in treasury and trade solutions and a 16% increase in securities services.

Banking saw the biggest annual gain as revenue jumped 34% to $1.92 billion, buoyed by 44% growth in investment banking despite a decline in corporate lending.

Wealth revenue increased 13% to $3.18 billion, while US consumer cards grew 1% to $4.52 billion.

Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC) and JPMorgan Chase (JPM) posted stronger-than-expected second-quarter results Tuesday, driven by a surge in markets revenue and investment banking fees.

For 2026, Citigroup said it continues to expect net interest income excluding markets to grow by 5% to 6% year over year, amid continued fee momentum in services, banking and wealth, partially offset by US consumer cards.

The company's "growing earnings generation" will support a planned 12% dividend increase alongside the launch of a $30 billion share buyback program, Fraser said.

"The combination of our investments, disciplined execution and focus on clients is improving our returns and creating more durable results for our investors," she said.

Price: $143.38, Change: $+2.67, Percent Change: +1.90%

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