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Citigroup 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.
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Revenues increased 12% from the prior-year period and 6% excluding the divestiture-related impacts, as growth in net interest income was partially offset by lower non-interest revenues. The higher net interest income was driven by the impact of higher interest rates across businesses.
Net income of $4.6 billion increased 7% from the prior-year period, and decreased 19% excluding the divestiture-related impacts.
