Thndr Claps » U.S. Claps » Financial Services 💸 » Citigroup shares roaring loud 📈
The ClapCitigroup’s shares surged 10% on Friday after posting a smaller than expected 27% drop in quarterly profit.The DeetsThe Treasury and Trade Solution business, TTS, had recorded a 33% jump in revenue to $3 billion, the best performance in a decade.Revenues jumped by 25% to $5.3 billion, due to the volatility of the FX market and commodities. What about the buyback?Despite the strong performance, Citigroup will pause share buybacks due to the current threats to the economy as well as the need to have a particular capital ratio.
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