Citigroup Inc.’s (C) second-quarter 2024 net income per share of $1.52 surpassed the Zacks Consensus Estimate of $1.40. The metric increased 14.3% from the year-ago quarter’s levels.Shares of C have gained 3.3% in the pre-market trading on a higher-than-expected quarterly performance.It witnessed a rise in total loans in the quarter. However, deposits declined on a year-over-year basis.Net income in the quarter was $3.22 billion, increased 10.4% from the prior-year quarter’s levels.Revenues Increase, Expens ...

July 12, 2024 Earnings Results Presentation Second Quarter 2024 Our strategy and path forward remains unchanged Our Vision Be the preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in our home market Delivering on our Investor Day priorities Transformation Simplification Culture and TalentInvest for Growth #1 priority Focus on five core interconnected businesses Maximize unique global network Build winning culture Relentless e ...

For the quarter ended June 2024, Citigroup (C) reported revenue of $20.14 billion, up 3.6% over the same period last year. EPS came in at $1.52, compared to $1.37 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $20.03 billion, representing a surprise of +0.54%. The company delivered an EPS surprise of +8.57%, with the consensus EPS estimate being $1.40.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they com ...

Citigroup (C) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.40 per share. This compares to earnings of $1.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.57%. A quarter ago, it was expected that this U.S. bank would post earnings of $1.13 per share when it actually produced earnings of $1.58, delivering a surprise of 39.82%.Over the last four quarters, the company has surp ...

Key TakeawaysCitigroup on Friday reported second-quarter profit that exceeded expectations.The bank's net income jumped 10% year-over-year to $3.2 billion, or $1.52 per diluted share.Revenue increased 4% after a strong showing from the banking and trading businesses.Citi's operating expenses, in the spotlight after ending its restructuring program, declined 2%. Citigroup (C) on Friday reported second-quarter profit that beat analysts' estimates. Citi's net income of $3.2 billion was 10% higher than the year ...

About this content About Jamie Ashcroft Jamie Ashcroft, the News Editor for Proactive UK, has developed an impressive career in financial journalism, focusing on the small-cap sector for over fourteen years. Before joining the Proactive team, he was a stockbroker during the global financial crisis, a role that complemented his educational background - a first-class degree in Business and Economics and qualifications in software design and development. As one of the early external hires at Proactive in 20 ...

Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, May 1, 2023.Citigroup is scheduled to report second-quarter earnings before the opening bell Friday.Here's what Wall Street expects:Earnings: $1.39 a share, according to LSEGRevenue: $20.1 billion, according to LSEGProvision for credit losses: $2.61 billion, according to StreetAccountTrading Revenue: Fixed Income of $3.57 billion, Equities of $1.20 billion, according to StreetAccountCitigroup was just ...

Citigroup Inc. (C) announced that it has been penalized by the U.S. bank regulators with a $136 million fine for failing to make adequate progress in fixing data management issues. The Federal Reserve and the Office of the Comptroller of the Currency (OCC) disclosed the action on Wednesday. The company’s shares fell 1.03% in the after-market hours following the announcement.The regulators stated that Citi made “insufficient progress” in dealing with the issues identified in 2020 which required Citi to fix t ...

The heart of the Q2 earnings season is upon us with several big banks set to report their quarterly results on Friday, July 12.Wall Street will be closely monitoring JPMorgan’s (JPM)  results as the largest bank in the United States but also paying close attention to Citigroup (C)  which is the third largest domestic bank. To that point, Citigroup recently announced a significant restructuring plan to streamline its operations in a bid to enhance efficiency.That said, let’s see if now is a good time to buy ...

The financial sector, and specifically the sector ETF Financial Select Sector SPDR Fund NYSE: XLF, has been consolidating for several months and is now approaching a significant breakout level. As earnings season kicks off, the sector's major players are set to report quarterly results, potentially triggering a major directional move. So, let's explore the XLF ETF's current positioning, its recent performance, and what to expect from its top holdings as they report earnings, as this could lead to a higher t ...