Citigroup reported Tuesday quarterly outcomes that simply beat analyst expectations, pushed by robust fixed-income buying and selling revenues toge
Citigroup reported Tuesday quarterly outcomes that simply beat analyst expectations, pushed by robust fixed-income buying and selling revenues together with rising gross sales from the financial institution’s shopper enterprise.
Here is what analysts expect to see from the banking big’s outcomes:
- Earnings: $1.90 per share vs. $1.84 per share anticipated by Refinitiv
- Income: $18.378 billion vs. Refinitiv forecast of $17.855 billion
- Mounted revenue buying and selling: $2.9 billion vs. FactSet estimate of $1.24 billion
- Equities buying and selling: $516 million vs. $673.7 million forecast
The inventory rose 1.2% after the outcomes had been launched.
Citigroup’s bond-trading revenues symbolize a 49% surge from the year-earlier interval. The financial institution mentioned the robust outcomes reflext a restoration from the fourth quarter of 2018 together with “robust efficiency, significantly in charges and unfold merchandise.”
That robust consequence, nonetheless, was barely offset by a 23% decline in fairness buying and selling because the derivatives setting turns into “tougher.”
The financial institution’s shopper enterprise additionally boosted its outcomes, as its world shopper banking division raked in $8.5 billion in gross sales. That is a 5% enhance from the year-earlier interval.
CEO Michael Corbat highlighted Citigroup’s Branded Playing cards enterprise, which noticed its income develop by 10% to $2.four billion.
“The U.S. shopper franchise noticed continued robust progress in Branded Playing cards and sustained its…