Citi delivered a strong second quarter with a net income of $4 billion, reflecting a 25% year-over-year increase. CFO Mark Mason noted that while CEOs are cautious, business activity is expected to increase. Consumer financial health remains stable, with affluent consumers continuing to spend, although overall consumer behavior has become more discerning. Tariffs on imports may impact inflation and economic consequences remain uncertain. Citi outperformed analyst expectations in earnings per share and revenue, with growth across all business lines.
Mark Mason shared insights on the company's performance-net income for the second quarter was $4 billion, up 25% year over year-and client outlook.
Mason stated that despite some executives taking a cautious approach, business activity is expected to continue picking up.
While he described today's consumers as more discerning, he observed that affluent customers are continuing to spend.
Mason acknowledged that new tariffs on imported goods could influence inflation and lead to unintended economic consequences.
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