Citigroup second quarter 2017 results

For the second quarter 2017 Citigroup reported net income of $3.9 billion, or $1.28 per diluted share, on revenues of $17.9 billion.

citigroup second quarter 2017 resultsCitigroup Second Quarter 2017 Highlights

Earnings per Share of $1.28

Net Income of $3.9 Billion

Revenues of $17.9 Billion

Returned $2.2 Billion of Capital to Common Shareholders

Repurchased 29 Million Common Shares

Book Value per Share of $77.36

Tangible Book Value per Share of $67.326

Citigroup Inc. reported net income for the second quarter 2017 of $3.9 billion, or $1.28 per diluted share, on revenues of $17.9 billion. This compared to net income of $4.0 billion, or $1.24 per diluted share, on revenues of $17.5 billion for the second quarter 2016.

Revenues increased 2% from the prior year period, driven by growth in Institutional Clients Group (ICG) and Global Consumer Banking (GCB), partially offset by lower revenues in Corporate/Other.

Net income of $3.9 billion decreased 3%, as the higher revenues were more than offset by higher cost of credit and operating expenses, as well as a higher effective tax rate.

Earnings per share of $1.28 increased 3% from $1.24 per diluted share in the prior year period, driven by a 6% reduction in average diluted shares outstanding, partially offset by the lower net income.