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Citigroup posts better-than-expected earnings and revenue, shares rise

Citigroup C Q2 earnings report 2023

Citigroup on Friday reported second-quarter earnings and revenue that topped expectations. Despite the beat, Citi’s revenue fell 1% from a year ago as the decline in markets and investment banking businesses weighed on its results. Citi said the uncertain macroenvironment and low volatility impacted client activity and market performance. “Amid a challenging macroeconomic backdrop, we...