Citigroup Citigroup Capita Earnings: Here’s Why the Stock is Falling Now
Citigroup Inc. Citigroup Capita (NYSE:CG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.31%.
Citigroup Inc. Citigroup Capita Earnings Cheat Sheet
Revenue: Decreased 23.31% to $852 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Citigroup Inc. Citigroup Capita reported adjusted EPS income of $1.02 per share. By that measure, the company beat the mean analyst estimate of $0.94. It beat the average revenue estimate of $795.69 million.
Quoting Management: David M. Rubenstein, Co-Chief Executive Officer of Carlyle, said, “Our first quarter results continue to demonstrate strength in the Carlyle Engine. Fundraising was particularly strong, with $5 billion in new capital raised, and we generated $4 billion in realized proceeds. We continue to invest in Carlyle’s growing operational capabilities, notably the build-out of our international energy team, the launch of our new business development corporation, and an expanded retail strategy.”
William E. Conway, Jr., Co-Chief Executive Officer of Carlyle, said, “Our carry funds had a strong showing, appreciating 7% during the quarter, and our Global Market Strategies business continued to grow and perform well across all metrics. Distributable Earnings were solid and ENI more than doubled quarter over quarter. Our $142 million in realized net performance fees shows how our product diversity and geographic scope deliver results. We are focused on the long-term growth and profitability of the firm, which we believe will benefit our fund and public investors alike.”
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