Citigroup Inc (C): In-Depth Analysis of Its Latest Financial Report

Citigroup Inc (NYSE:C)’s net income grew by 30% over quarter 1 2012. The company’s net income growth was primarily driven through aggressive cuts in operating expenses. Citigroup’s provision for credit losses declined by 16%, this was another contributing factor to the sudden earnings surprise. Citigroup’s net-income grew from $2.9 billion to $3.8 billion between the 1^st quarter of 2012 to 1^st quarter 2013.

The company’s earnings performance was more than satisfactory. The macro-economic picture is a little murky from a lending perspective, but the overall theme that should keep shareholders up-beat is the declining costs associated with bad mortgages, falling litigation related costs, along with moderate growth in lending. Citigroup was also able to sustain revenue growth, unlike its other two counterparts (JP Morgan and Chase, Wells Fargo & Company); the improvement in the bottom line is reflected in the strong performance from its fee division. The over-arching theme is that Citigroup is a compelling investment opportunity.

The article Citigroup Tops On Revenues and Earnings originally appeared on Fool.com and is written by Alexander Cho.

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