Citigroup Inc.'s second-quarter profit fell 12 percent but its adjusted earnings-per-share beat estimates, the New York-based bank said Monday.
Adjusted earnings per share in the April-through-June period was $1, beating an average estimate of analysts, polled by Bloomberg News, of 89 cents per share. Revenue fell year-over-year by 10 percent to $18.6 billion.
Our core businesses performed well in a difficult environment and are generating solid returns, CEO Vikram Pandit said in a statement. We had strong growth in both loans and deposits, showed resilience in our markets-facing businesses, and saw record revenues in Transaction Services.
Shares rose in premarket trading 63 cents, or 2.4 percent, $27.28.