- Earnings per Share of $1.68
- Net Income of $4.6 Billion
- Revenues of $18.9 Billion
- Returned $3.1 Billion of Capital to Common Shareholders
- Repurchased 30 Million Common Shares
- Book Value per Share of $71.67
- Tangible Book Value per Share of $61.025
New York, April 13, 2018 – Citigroup Inc. today reported net income for the first quarter 2018 of $4.6 billion, or $1.68 per diluted share, on revenues of $18.9 billion. This compared to net income of $4.1 billion, or $1.35 per diluted share, on revenues of $18.4 billion for the first quarter 2017.
Revenues increased 3% from the prior-year period, driven by growth in both the Institutional Clients Group (ICG) and Global Consumer Banking (GCB), partially offset by lower revenues in Corporate / Other primarily due to the continued wind-down of legacy assets. Net income of $4.6 billion increased 13%, driven by the higher revenues and a lower effective tax rate, partially offset by higher expenses and cost of credit. Earnings per share of $1.68 increased 24% from $1.35 per diluted share in the prior-year period, driven by the growth in net income and a 7% reduction in average diluted shares outstanding.
Percentage comparisons throughout this press release are calculated for the first quarter 2018 versus the first quarter 2017, unless otherwise specified.
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