Here comes Citi ...

Michael CorbatMichael Corbat, CEO of Citigroup, speaks at the Milken Institute's 21st Global Conference in Beverly Hills, California, U.S. April 30, 2018. REUTERS/Lucy NicholsonLucy Nicholson/Reuters

Citigroup is set to announce first-quarter earnings results Monday at 8 am.

Analysts are expecting the bank to report adjusted earnings per share of $1.80, a 7% increase from the first quarter last year.

Here's what else analysts are anticipating:
  • Revenue: $18.6 billion, down 1.5% from last year.
  • Adjust net profit: $4.2 billion, down 8.5% from last year.
  • Investment banking fees up; trading revenues down.
  • Improvement in revenue from the US credit-card business.

Citigroup announced another major shakeup to its senior ranks last week, with president and Institutional Clients Group head Jamie Forese announcing his retirement.

It's expected to be a rough quarter for trading across Wall Street, with revenues across fixed income and equities expected to fall 15%, according to projections from Keefe, Bruyette, & Woods.

JPMorgan Chase kicked off bank earnings Friday with a record results, despite a 17% dip in trading.

{{}}
Add Comment()
Comments ()
X
Sort By:
Be the first one to comment.
We have sent you a verification email. This comment will be published once verification is done.