Citizens Financial Group: Q2 Earnings Snapshot

PROVIDENCE, R.I. (AP)  Citizens Financial Group Inc. (CFG) on Tuesday reported second-quarter net income of $648 million.

On a per-share basis, the Providence, Rhode Island-based company said it had net income of $1.44. Earnings, adjusted for non-recurring costs, came to $1.46 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.

The bank posted revenue of $1.7 billion in the period. Its adjusted revenue was $1.61 billion, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.63 billion.

Citizens Financial Group shares have risen 15% since the beginning of the year. The stock has risen 64% in the last 12 months.