Citigroup shares jumped 3.6% to their highest level since 2008 after the banking giant reported fixed-income trading revenue surged 20% to $4.3 billion, smashing the $3.9 billion forecast by Bloomberg-polled analysts. The impressive performance in turbulent markets contributed to what multiple analysts described as an exceptionally strong quarterly showing.
The bank's trading divisions capitalized on market volatility, including fluctuations triggered by Trump-era tariffs, delivering standout results. Key second-quarter figures included: - Markets revenue of $5.88 billion versus $5.45 billion consensus - FICC sales and trading revenue of $4.27 billion compared to $3.92 billion estimate - Equity sales and trading revenue of $1.61 billion, exceeding $1.55 billion projections - Banking revenue reached $1.92 billion against $1.65 billion expectations - Investment banking revenue hit $981 million, surpassing the $945.2 million forecast
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