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Citigroup's earnings beat is "the big turnaround story for the large-cap banks," analyst Gerard Cassidy tells CNBC.
CNBC's Jim Cramer said Tuesday that it's about time Citigroup executed some of its latest moves.
Citigroup cut CEO Corbat's pay by about 7 percent in 2014, a year in which the bank's profit nearly halved due to higher legal costs and a slump in bond trading.
Banks haven't been able to get their message straight on what exactly is causing the weak profit reports.
Citi investors are in St. Louis today for the bank's annual shareholder meeting. CNBC's Kayla Tausche provides insight into the day's schedule.
Citigroup reported Q1 EPS of $1.30 ex-items on revenue of $20.12 billion. "Mad Money" host Jim Cramer says they made more money than he thought the bank would.
Citigroup is warning its investors it could miss its profitability target, a figure measured by the ratio of profit to shareholders' equity.
CEOs from major banks met with President Obama on Wednesday and warned of the consequences if lawmakers fail to raise the US debt ceiling.
In a marked difference to prior annual meetings, Citigroup shareholders praised management and the board on Wednesday for revitalizing the bank's strategy.
'Prepping' is the key word in Davos today as 'Team Bartiromo' finalized details for the 40+ interviews about to air over the next three days.