Citigroup Inc ( (C) ) has released its Q1 earnings. Here is a breakdown of the information Citigroup Inc presented to its investors.
Citigroup Inc. is a global financial services company offering a wide range of financial products and services, including banking, investment, and wealth management, operating in over 180 countries.
In its first quarter of 2025, Citigroup reported a net income of $4.1 billion, a significant increase from the previous year, driven by strong performance across its five business sectors. The company also returned $2.8 billion to shareholders through dividends and share repurchases.
Key financial highlights include a 3% increase in revenues to $21.6 billion, with notable growth in the Markets and Wealth sectors. The Markets sector saw a 12% revenue increase, driven by strong client activity in fixed income and equity markets, while Wealth revenues surged by 24%, benefiting from higher deposit spreads and investment fee revenues. Operating expenses decreased by 5%, attributed to lower FDIC assessments and restructuring charges. However, the cost of credit rose by 15% due to macroeconomic outlook deterioration.
Looking ahead, Citigroup remains focused on executing its diversified business strategy, aiming to navigate various macroeconomic scenarios effectively. The company continues to emphasize its role in supporting clients through uncertain economic conditions, leveraging its global presence and expertise.