Earnings season underway
- Citigroup earns $1.68 vs $1.61 per share expected
- Citi revenue $18.87B vs $18.86B est
- Citi fixed income revenue $3.42B vs $3.70B est
Both companies missed on the efficiency ration, which is the measure of what it costs to produce a dollar of revenue. Citi was at 57.9% versus its 2018 target of 57.0%