Citigroup is set to report first-quarter earnings – here’s what the Street expects

Citigroup is set to report first-quarter earnings – here’s what the Street expects


Jane Fraser, CEO of Citigroup, attends a hearing on Annual Oversight of Wall Street Firms before the Senate Committee on Banking, Housing, and Urban Affairs in Washington, D.C., the United States, on Dec. 6, 2023. 

Tom Williams | Cq-roll Call, Inc. | Getty Images

Citigroup is scheduled to report first-quarter earnings before the opening bell Tuesday.

Here’s what Wall Street expects:

  • Earnings: $1.85 per share, according to LSEG
  • Revenue: $21.29 billion, according to LSEG
  • Provision for credit losses: $2.57 billion, per StreetAccount
  • Trading Revenue: Fixed income of $4.33 billion, Equities of $1.4 billion, per StreetAccount

Citigroup may have a key disadvantage when it comes to first-quarter earnings.

While its Wall Street peers feasted on booming stock trading revenue in the period, Citigroup’s trading division is much more tilted to fixed income than equities.

That may mean it doesn’t have quite the tailwind from trading as its rivals did.

JPMorgan Chase, Morgan Stanley and Goldman Sachs each exceeded analysts’ estimates on a boom in equities trading revenue as the banks took advantage of volatility in the quarter.

Shares of Citigroup have dropped 10% this year amid a broad selloff in banks related to President Donald Trump’s tariff policies.

This story is developing. Please check back for updates.



Source

How Under Armour signed Stephen Curry away from Nike
Business

How Under Armour signed Stephen Curry away from Nike

In 2013, Stephen Curry shocked the sneaker world by signing with then-upstart athletic company Under Armour over basketball powerhouse Nike. At the time, Nike controlled the vast majority of the NBA sneaker market. Under Armour was virtually unheard of in the basketball space. “We’re the underdog brand. We’re for the ones that were maybe born […]

Read More
Private equity firm Roark Capital invests in fast-growing restaurant chain Dave’s Hot Chicken
Business

Private equity firm Roark Capital invests in fast-growing restaurant chain Dave’s Hot Chicken

Private equity firm Roark Capital has bought a majority stake in Dave’s Hot Chicken, the company announced on Monday. Financial terms were not disclosed, but Dave’s CEO Bill Phelps said on CNBC’s “Squawk Box” that the reported $1 billion valuation for the deal is “pretty close.” Since its founding in a Los Angeles parking lot […]

Read More
More office space is being removed than added for the first time in at least 25 years
Business

More office space is being removed than added for the first time in at least 25 years

After several years of deep distress, the beleaguered U.S. office market has reached an inflection point. This year, office conversions and demolitions will exceed new construction for the first time in at least 25 years. Simply put, more office space is being removed than added, shrinking the overall office footprint, according to exclusive new data […]

Read More