Citigroup beats by $0.12, reports revs in-line
Reports Q1 (Mar) earnings of $1.52 per share, $0.12 better than the Capital IQ Consensus Estimate of $1.40; revenues fell 2.3% year/year to $19.74 bln vs the $19.82 bln consensus.
- C utilized $1.2 billion of deferred tax assets, helping increase Common Equity Tier 1 Capital ratio to 11.0% and Supplementary Leverage Ratio to 6.4%.
- Citigroup revenues were $19.7 billion in the first quarter 2015, down 2% from the prior year period. Excluding CVA/DVA, revenues of $19.8 billion decreased 2% from the prior year period, driven by a 1% decrease in Citicorp revenues and a 7% decrease in Citi Holdings revenues.
- Citigroup's net income increased 21% to $4.8 billion in the first quarter 2015