Revenue Growth Remains Challenging for Citigroup in Tougher Market Environment
Narrow-moat rated Citigroup reported OK second-quarter results, which were boosted by a pretax gain of $350 million from the bank’s ownership in Tradeweb (which recently became public). Net income came in at $4.8 billion, or $1.95 per share, on $18.76 billion of revenue. Revenue growth of 2%, along with a decline in operating expenses of 2% led to growth in earnings before taxes of 4%. A lower tax rate helped drive net income growth of 7%, while share repurchases brought EPS growth to 20%.ÂIn o...
Citigroup is a financial services holding company whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. The company operates via two primary business segments: Global Consumer Banking, which provides banking services to retail customers through retail banking, Citi-branded cards and Citi retail services; and Institutional Clients Group, which includes banking and markets and securities services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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