Citigroup Surpasses Q2 Projections with Surge in Market and Banking Revenue

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Jane Fraser, CEO of Citigroup, speaks at the 28th annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California on May 5, 2025. Patrick T. Fallon | AFP | Getty Images

Citigroup reported second-quarter results on Tuesday that exceeded expectations after a three-month period where the bank's stock significantly outperformed the market. 

Here's how Citigroup's results compare to Wall Street expectations:

Earnings: $1.96 per share vs. $1.60 per estimate from LSEG  
Revenue: $21.67 billion vs. $20.98 billion estimate 

The second-quarter results reported on Tuesday include a turbulent market period in early April. This volatility may have contributed to improved performance in both equity and fixed income trading at major banks, including Citigroup. Given the uncertain tariff situation, investors are keen to hear from management about the firm’s updated outlook. 

Additionally, investors will be looking for updates regarding CEO Jane Fraser's turnaround plan. As part of this strategy, Citigroup has been reducing its presence in international markets, including announcing layoffs in China in June. 

These results follow a first half where Citigroup's stock outperformed not only the broader market but also several of its universal bank peers. As of Monday's close, the stock had risen 24% year to date and 38% since April 14, the day before the bank's first-quarter earnings report. 

Citigroup had previously announced a dividend increase to 60 cents per share from 56 cents on July 2, following the Federal Reserve's stress tests.