Citigroup Inc. Announces Robust First Quarter Performance

On Tuesday, Citigroup Inc. revealed its financial results for the first quarter of fiscal 2025, showcasing a 3% increase in revenue, totaling $21.6 billion, compared to the same period in 2024.

Significant Growth in Net Income and Earnings Per Share

The bank reported a 21% annual jump in net income, reaching $4.1 billion, with diluted earnings per share climbing 24% to $1.96, underscoring the company's strong operational performance.

CEO Jane Fraser Highlights Record-breaking Quarter

"We delivered a strong quarter, marked by continued momentum, positive operating leverage, and improved returns across all five of our businesses. Services recorded its best first-quarter revenue in a decade," stated CEO Jane Fraser. She also emphasized the enduring strength of the US economy and the dollar's position as the global reserve currency.

Stock Response to the Earnings Report

Following the announcement, Citigroup's stock experienced a 0.28% increase in premarket trading, reflecting investor confidence in the bank's financial health and future prospects.