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Citigroup CEO Sees ‘Surprisingly Resilient' Global Consumer Spending
PYMNTS.com· 2024-10-15 22:12
Citigroup’s earnings Tuesday (Oct. 15) echo the sentiment of other banks that have reported in the past few days:Investment banking and trading revenues were up. And consumers remain resilient — though in the words of CEO Jane Fraser on the conference call with analysts, spending has been “healthy,” but consumers have become “discerning” in what they are buying.As far as banking had been concerned, Citi’s earnings materials show equity market revenues were up by about a third, and overall banking revenues w ...
Citi(C) - 2024 Q3 - Earnings Call Transcript
2024-10-15 19:25
Citigroup Inc. (NYSE:C) Q3 2024 Earnings Conference Call October 15, 2024 11:00 AM ET Company Participants Conference Call Participants Operator Hello, and welcome to Citi's Third Quarter 2024 Earnings Call. Today's call will be hosted by Jenn Landis, Head, Citi Investor Relations. We ask that you please hold all questions until the completion of the formal remarks, at which time you'll be given instructions for the question-and-answer session. Also, as a reminder, this conference is being recorded today. I ...
Citigroup Q3 Earnings Beat Estimates, IB Revenues Increase 31% Y/Y
ZACKS· 2024-10-15 17:21
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 ...
Citigroup Set To Exceed 52-Week Highs After Earnings
Seeking Alpha· 2024-10-15 16:15
About My Writing: I am currently focused on income investing through either common shares, preferred shares, or bonds. I will occasionally break away and write about the economy at large or a special situation involving a company I've been researching in. I target two articles per week for publication on Monday and Tuesday.About My Background: Bachelors in history/political science, Masters in Business Administration with a specialization in Finance and Economics. I enjoy numbers. I have been investing sinc ...
Citigroup Profit Hit by Credit Losses, Allowances for Bad Loans
Investopedia· 2024-10-15 16:05
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 ...
Compared to Estimates, Citigroup (C) Q3 Earnings: A Look at Key Metrics
ZACKS· 2024-10-15 15:00
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 ...
Citi(C) - 2024 Q3 - Quarterly Results
2024-10-15 14:13
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) Q3 Earnings and Revenues Top Estimates
ZACKS· 2024-10-15 14:11
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 ...
Citigroup earnings are due Tuesday. Here's what Wall Street expects
CNBC· 2024-10-15 11:10
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. ...
Goldman Sachs, Citigroup, and Bank of America: The Key to New Market Highs?
FX Empire· 2024-10-15 08:05
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 ...