Citigroup Beat Expectations, Reaffirms

Citigroup (C) reported earnings of $3.15 per share on revenue of $45.30 billion for the second quarter ended June 2026. The consensus earnings estimate was $2.72 per share on revenue of $23.68 billion. The Earnings Whisper number was $2.79 per share. The company beat expectations by 12.90% while revenue grew 6.97% on a year-over-year basis.

The company said in its earnings presentation it continues to expect 2026 NII, ex-Markets, of $89.5 billion to $90.3 billion. The current consensus revenue estimate is $94.0 billion for the year ending December 31, 2026.

Citi Chair and CEO Jane Fraser said, “With net income up 45%, this was Citi’s best quarterly revenue in a decade with double-digit revenue growth for the firm and in four out of our five businesses. Services delivered its highest ever quarterly revenue and a return of over 30%. In Markets, strong results in FX and spread products also show how much clients rely on our global network while Equities showed continued momentum with revenues up 45%. Banking revenues climbed 34% and we played a role in the majority of the top equity and debt issuances. Wealth revenues increased for the 9th straight quarter with almost two-thirds of Net New Investment Assets growth coming from deepening relationships with existing clients. Despite short-term headwinds from investments in our U.S. Consumer Cards portfolio, our resilient customer base kept fueling underlying drivers: loan growth, higher spend and better credit performance than expected."

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States.