Citigroup is on track to achieve the high end of its 2024 revenue guidance and plans to increase stock buybacks once its capital outlook becomes clearer. The company's CFO, Mark Mason, emphasized the priority of returning more capital to investors. Citigroup expects to reach the upper limit of its $80-81 billion revenue guidance, with expenditures also likely hitting the high end, aligning with its key metrics for the year.
Despite having a substantial capital buffer, Citigroup's buybacks have been modest. Mason clarified that this is not due to regulatory changes or fines related to data management issues. The current quarter's buyback target is $1 billion, with $500 million already completed.
