Citigroup Inc (NYSE:C) reported better-than-expected earnings for the first quarter on Tuesday.
The company posted quarterly earnings of $3.06 per share which beat the analyst consensus estimate of $2.63 per share. The company reported quarterly sales of $24.633 billion which beat the analyst consensus estimate of $23.526 billion.
CEO Jane Fraser said Citi has entered the final phase of its divestitures, with most transformation programs nearing targets. The bank repurchased $6.3 billion in shares during the quarter and remains on track to meet its 10% to 11% return on tangible common equity goal for the year.
Citigroup reaffirmed its 2026 outlook, expecting net interest income excluding markets to rise 5% to 6%. It also raised its forecast for branded cards net credit losses to a range of …