2023Q2 Press Release
2023Q2 Press Release2023Q2 Press Release2023Q2 Press Release2023Q2 Press Release
HIGHLIGHTS
Returned $1.0 Billion in Dividends to Common Shareholders
Payout Ratio of 23%3
Book Value per Share of $96.59
Tangible Book Value per Share of $84.214
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New York, April 14, 2023 – Citigroup Inc. today reported net income for the first quarter 2023 of $4.6 billion, or $2.19 per diluted share, on revenues of $21.4 billion. This compares to net income of $4.3 billion, or $2.02 per diluted share, on revenues of $19.2 billion for the first quarter 2022.
First quarter results included divestiture-related impacts of $953 million5 in earnings before taxes ($648 million after-tax), primarily driven by a gain on the sale of the India consumer business, recorded in Legacy Franchises. Excluding these divestiture-related impacts, earnings per share was $1.865. This compares to divestiture-related impacts in the first quarter 2022 of $(677) million5 in earnings before taxes ($(588) million after-tax), primarily driven by a goodwill impairment related to Asia Consumer Banking, also recorded in Legacy Franchises.