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 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.