Compared to Estimates, Citigroup (C) Q1 Earnings: A Look at Key Metrics

Core Insights - Citigroup reported revenue of $21.1 billion for Q1 2024, a decrease of 1.6% year-over-year, with EPS at $1.58 compared to $1.86 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $20.3 billion by 3.98%, while the EPS surprised by 39.82% against the consensus estimate of $1.13 [1] Financial Metrics - Net Interest Margin (FTE) was 2.4%, matching the average estimate of seven analysts [2] - Efficiency Ratio stood at 67.3%, better than the average estimate of 69.3% [2] - Average balance of Total interest-earning assets was $2,250.19 billion, slightly below the estimated $2,252.88 billion [2] - Supplementary Leverage Ratio was 5.8%, lower than the average estimate of 6.2% [2] - Markets Revenues, net of interest expense, reached $5.38 billion, exceeding the estimate of $5.25 billion [2] - Equity Markets revenue was $1.23 billion, significantly below the estimated $2.08 billion [2] - Fixed Income Markets revenue totaled $4.15 billion, also below the estimate of $7.41 billion [2] - US Personal Banking Revenues, net of interest expense, were $5.18 billion, above the estimate of $5.10 billion [2] - Services Revenues, net of interest expense, amounted to $4.77 billion, slightly above the estimate of $4.75 billion [2] - Corporate/ALL OTHER Revenues Managed Basis (net of interest expense) was $2.39 billion, exceeding the estimate of $1.87 billion [2] - Treasury and Trade Solutions revenue was $3.52 billion, slightly below the estimate of $3.58 billion [2] - Securities Services revenue was $1.25 billion, above the estimate of $1.18 billion [2] Stock Performance - Citigroup shares have returned +6.3% over the past month, outperforming the Zacks S&P 500 composite's +1.6% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]