Citigroup Q2 profit jumps 45% on record trading revenue

Citigroup reported a surge in second-quarter profit on Tuesday, July 14, 2026, driven by record trading and investment banking results that pushed quarterly revenue to its highest level in a decade. The bank posted net income of $5.83 billion, a 45% increase from the same period last year. Earnings per share of $3.15 significantly exceeded analyst expectations, which averaged around $2.73 to $2.74.

Total revenue for the quarter reached $24.77 billion, a 14% year-over-year increase and more than $1 billion above Wall Street forecasts. The results were powered by a surge in market activity, which executives and analysts linked to geopolitical tensions, including between the U.S. and Iran, that drove volatility in oil and other asset classes.

Equities trading revenue soared 45% to $2.3 billion, while fixed-income trading revenue advanced 7% to $4.7 billion. The investment banking division saw a 44% jump in revenue to $1.55 billion, fueled by strong performances in equity and debt capital markets. Citigroup played a key role in two major transactions during the quarter: serving as a lead underwriter for SpaceX's $75 billion initial public offering and advising on the $44.8 billion...