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Citigroup reported better than expected Q2 earnings yet its stock fell more than 3%

Citigroup (C) stock news

Shares of Citigroup Inc. (C) closed at 50.15-2.05 (-3.93%) on July 14, 2020.

“Citigroup reported better than expected results for the second quarter, but the news failed to lift the stock.

Profits for Citigroup (ticker: C) totaled $1.3 billion, or 50 cents a share—better than the 35 cents a share analysts expected, but 73% below profits of $4.8 billion in the second quarter of 2019. Revenue of $19.8 billion was 5% higher than in the year-earlier quarter.”

Stock market data: https://www.barrons.com/articles/citigroup-earnings-beat-forecasts-trading-revenue-was-strong-51594734684?siteid=yhoof2&yptr=yahoo

Citigroup (C) stock chart

Citigroup (C) stock chart
Citigroup (C) stock chart

Source: stockscharts.com

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