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.
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?
He's got Trump's favor Citi CEO tells Trump coronavirus is ‘not a financial crisis’ via YouTube
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