Citigroup Inc.'s (C) third-quarter 2024 adjusted net income per share of $1.51 surpassed the Zacks Consensus Estimate of $1.34. The metric decreased 0.7% from the year-ago quarter. Find the latest earnings estimates and surprises on the Zacks Earnings Calendar. As expected, Citigroup posted a year-over-year increase of 31% in Investment Banking (IB) revenues, driven by strength in Debt Capital Markets. The company also witnessed a rise in total loans and deposits balance in the quarter. However, provisions ...

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Key Takeaways Citigroup's shares lost ground Tuesday after the bank's third-quarter profit fell as its credit losses and reserves to cover bad loans increased. Despite that, net income and revenue exceeded estimates, boosted by a large gain in revenue from the investment banking sector. CEO Jane Fraser pointed to her efforts to revamp the bank, saying the results show "we are moving in the right direction and that our strategy is gaining traction." Citigroup (C) shares lost ground Tuesday after the bank's t ...

Citigroup (C) reported $20.32 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 0.9%. EPS of $1.51 for the same period compares to $1.52 a year ago.The reported revenue represents a surprise of +2.05% over the Zacks Consensus Estimate of $19.91 billion. With the consensus EPS estimate being $1.34, the EPS surprise was +12.69%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

Exhibit 99.2 CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT 3Q24 | --- | --- | |----------------------------------------------------------------------------------------------------------|-------------| | | | | | Page | | Citigroup | | | Financial Summary | 1 | | Consolidated Statement of Income | 2 | | Consolidated Balance Sheet | 3 | | Operating Segments, Reporting Units, and Components—Net Revenues and Income | 4 | | Services | | | Markets | 5 6 | | Banking | | | | 7 | | U.S. Personal Banking (USPB) | 8 | ...

Citigroup (C) came out with quarterly earnings of $1.51 per share, beating the Zacks Consensus Estimate of $1.34 per share. This compares to earnings of $1.52 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.69%. A quarter ago, it was expected that this U.S. bank would post earnings of $1.40 per share when it actually produced earnings of $1.52, delivering a surprise of 8.57%.Over the last four quarters, the company has surp ...

The Citibank building in Canada Square at the heart of Canary Wharf financial district in London on May 7, 2024.Citigroup is set to report its third-quarter earnings before the opening bell on Tuesday, as investors will get the latest updates about the progress of CEO Jane Fraser's turnaround plan.Here are the results expected by Wall Street analysts, according to LSEG.Earnings per share: $1.31Revenue: $19.84 billionFraser took over in March 2021 and has focused on slimming down the bank during her tenure. ...

All Eyes Will Be on the Evolution of Banks’ Net Interest Income (NII)While both JPMorgan and Wells Fargo recently exceeded market expectations in their earnings reports, they are facing profit declines and ongoing pressure on Net Interest Income (NII) due to recent Federal Reserve rate cuts and a loosening of monetary policy. With more banking giants set to release their results this week, the evolution of NII will be a key focus for traders assessing which banks are better positioned to navigate this “post ...

Citigroup Inc.’s (C) lawyers pleaded to Paul Oetken, a U.S. District Judge, to dismiss the lawsuit filed by New York Attorney General Letitia James. The lawsuit accuses C’s subsidiary, Citibank, of failing to reimburse customers for online scams. This news was first reported by Bloomberg News on Tuesday.Brief Details on Citigroup’s LawsuitThe lawsuit was initiated in January 2024 by Letitia James claiming that Citibank's inadequate security measures allowed scammers to infiltrate customer accounts easily an ...

Citi says its Token Services for Cash program has gone live after a pilot phase.The new commercial solution, announced Thursday (Oct. 10), processes multimillion-dollar transactions and offers clients “24/7, always-on” cross-border liquidity and payments between participating Citi branches. The tool was created with a private and permissioned blockchain that is solely owned and managed by Citi, with clients not required to hold or manage any tokens to access the services.“The continued progress of Citi Toke ...