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.