The
lender, the most global of the U.S. banks, said net income fell
to $2.52 billion, or $1.05 per share, in the first quarter ended
March 31, from $4.71 billion, or $1.87 per share, a year
earlier.
Earnings per share were also boosted by a 10% reduction in
shares outstanding.
Analysts on average had expected Citigroup to earn $1.04 per
share, according to Refinitiv. It was not immediately clear
whether those estimates were comparable to the reported results.
(Reporting by Sweta Singh in Bengaluru and Imani Moise and David
Henry in New York; Editing by Sriraj Kalluvila)
[© 2020 Thomson Reuters. All rights
reserved.] Copyright 2020 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.

|
|