Citigroup stock is an investment in the financial services and investment banking business of Citigroup Inc. The company is based in New York City, New York. It was formed in 1998 as a result of the merger of Citicorp and Travelers Group. In 2002, Travelers Group was spun off. The company offers financial services to individuals and businesses around the world.
During the second quarter of 2022, Citigroup reported better-than-expected results. Revenue rose 11% yo-yo, beating analysts’ expectations by 31%. The Company’s Markets unit, which provides financial products and services to individuals, was the main growth driver in the second quarter. Revenues in this segment grew from $4.3 billion in the previous quarter to $5.3 billion this year.
In the early part of the year, Citigroup’s stock has been on a wild ride. While the company is performing well, a number of reasons have pushed investors to sell. One reason is the company’s Russian operations. Buying back stock is a great way to boost shareholder value. However, in this case, there is still a lot of uncertainty surrounding the company’s strategy in this area.
As a result, Citigroup has been leaving profits on the table by temporarily ceding market share in FICC trading. But this was offset by the fact that it had increased net interest income by 33%. The company’s third-quarter results beat Wall Street’s expectations, with earnings per share coming in at $3.32, above the $2.89 expected by analysts.