Citigroup earnings beat expectations amid buybacks, but revenues fall

Earnings

Citigroup is scheduled to report quarterly results later on Monday.

Here’s what Wall Street is expecting from the banking giant:

  • Earnings: $1.80 per share expected by Refinitiv
  • Revenue: $18.634 billion forecast
  • Fixed-income, currencies and commodities (FICC) trading revenue: $3.05 billion expected by StreetAccount
  • Equities trading: $930 million
  • Investment banking revenue: $1.2 billion forecast
  • Net interest margin: 2.72%

The results will follow the retirement of President Jamie Forese, who was considered a potential successor to CEO Michael Corbat. Citigroup announced Forese’s retirement on Thursday.

Citigroup shares have been on fire this year, rallying nearly 30% in that time period. The stock is also outperforming peers like J.P. Morgan Chase, Wells Fargo, Morgan Stanley, and Bank of America.

J.P. Morgan and Wells Fargo both reported quarterly earnings on Friday that topped analyst expectations. Shares of J.P. Morgan rallied on the news, while Wells Fargo dropped on a profit warning from its CFO.

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