Citi reviews 13% Y/Y drop in ICG Markets revenues in Q2 2023

Citigroup Inc (NYSE:C) at the moment reported its monetary outcomes for the second quarter of 2023.

The Institutional Shoppers Group (ICG) delivered revenues of $10.4 billion within the second quarter of 2023, down 9% from the corresponding interval a yr earlier.

Markets revenues amounted to $4.6 billion, down 13% from the equal interval in 2022. The energy within the Charges franchise was offset by declines in Currencies and Commodities. Fairness Markets revenues have been down 10% yr on yr, with the consequence reflecting a drop in Fairness Derivatives.

Throughout all segments, outcomes have been removed from rosy, as web earnings for the second quarter of 2023 amounted to $2.9 billion, down 36% from the consequence registered within the year-ago interval. Earnings per share decreased 39% from the year-ago quarter amounting to $1.33.

Revenues for the second quarter of 2023 totalled $19.4 billion, down 1% from the consequence reported within the second quarter of 2022.