reported second quarter earnings on Tuesday that beat analyst expectations for revenue and profit, offsetting a slowdown in the consumer banking division.
Markets and securities revenue rose 48% to $6.9 billion during the quarter, mostly driven by a 68% jump in fixed income. That offset declining Global Consumer Banking revenues that took a hit as spending slowed due to the coronavirus pandemic — revenue fell 10% on the year to $7.34 billion.
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Yes, in the midst of this crisis, while small businesses are closing across the country. Citi is reporting better than expected profits.... How about you?
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