Citizens Financial Q2 Profit Declines On Higher Expenses - Quick Facts

(RTTNews) - Citizens Financial Group Inc. (CFG) reported Q2 net income of $253 million or $0.53 per share compared to $453 million or $0.95 per share last year.

On an Underlying basis, Q2 net income available to common stockholders was $235 million or $0.55 per share versus $440 million or $0.96 per share in second quarter 2019.

Total revenue increased 7% to $1.75 billion from $1.63 billion generated a year ago, reflecting stable net interest income and a 28% increase in noninterest income driven by record results in mortgage banking.

Analysts polled by Thomson Reuters expected earnings of $0.07 per share on revenue of $1.68 billion for fiscal 2020. Analysts' estimate typically exclude certain special items.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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