Citigroup Stock Falls 5.29% Despite Strong Q2 Earnings as Bank Maintains Annual Guidance

C-5.28%
According to Yonhap Infomax, Citigroup's stock fell 5.29% to $133.27 on July 14, closing on negative sentiment despite beating second-quarter expectations. The decline reflected investor disappointment that the bank maintained its full-year return on tangible common equity (RoTCE) guidance at 10-11%, despite achieving 13.1% in the first half, signaling weaker expected profitability for the second half. Q2 revenue rose 14% year-over-year to $24.77 billion, and earnings per share of $3.15 exceeded consensus expectations of $2.74. Citigroup announced a 12% dividend increase and launched a $30 billion share buyback program.
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