0904 ET - Citigroup reports operating costs of $13.4 billion, down 5% from the same quarter a year ago thanks in part to a drop in compensation costs. The company says this came from favorable foreign currency translation, productivity savings from an organizational simplification effort, a reduction in stranded costs and lower severance. Those were partially offset by more technology and communications spending, higher professional fees and higher advertising and marketing costs, Citigroup says. Citigroup up 1.5% premarket. (dean.seal@wsj.com)
(END) Dow Jones Newswires
April 15, 2025 09:04 ET (13:04 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.