Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, May 1, 2023.Citigroup is scheduled to report second-quarter earnings before the opening bell Friday.Here's what Wall Street expects:Earnings: $1.39 a share, according to LSEGRevenue: $20.1 billion, according to LSEGProvision for credit losses: $2.61 billion, according to StreetAccountTrading Revenue: Fixed Income of $3.57 billion, Equities of $1.20 billion, according to StreetAccountCitigroup was just ...

Citigroup Inc. (C) announced that it has been penalized by the U.S. bank regulators with a $136 million fine for failing to make adequate progress in fixing data management issues. The Federal Reserve and the Office of the Comptroller of the Currency (OCC) disclosed the action on Wednesday. The company’s shares fell 1.03% in the after-market hours following the announcement.The regulators stated that Citi made “insufficient progress” in dealing with the issues identified in 2020 which required Citi to fix t ...

The heart of the Q2 earnings season is upon us with several big banks set to report their quarterly results on Friday, July 12.Wall Street will be closely monitoring JPMorgan’s (JPM)  results as the largest bank in the United States but also paying close attention to Citigroup (C)  which is the third largest domestic bank. To that point, Citigroup recently announced a significant restructuring plan to streamline its operations in a bid to enhance efficiency.That said, let’s see if now is a good time to buy ...

The financial sector, and specifically the sector ETF Financial Select Sector SPDR Fund NYSE: XLF, has been consolidating for several months and is now approaching a significant breakout level. As earnings season kicks off, the sector's major players are set to report quarterly results, potentially triggering a major directional move. So, let's explore the XLF ETF's current positioning, its recent performance, and what to expect from its top holdings as they report earnings, as this could lead to a higher t ...

Wall Street analysts forecast that Citigroup (C) will report quarterly earnings of $1.40 per share in its upcoming release, pointing to a year-over-year increase of 2.2%. It is anticipated that revenues will amount to $20.03 billion, exhibiting an increase of 3.1% compared to the year-ago quarter.The current level reflects a downward revision of 2.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their ...

Marilyn Nieves JPMorgan JPMorgan (NYSE:JPM) is scheduled to release their Q2 ’24 financial results before the opening bell, Friday, July 12th, 2024, with Street consensus expecting $4.18 in earnings per share, on $42.15 billion in revenue for expected y-o-y growth of -4% and -1% respectively. JPM has a tough compare with Q2 ’23 when revenue and EPS grew 34% and 54%, respectively. JPM also has tougher a compare vs. ’23 in Q3 ’24. Last quarter, Q1 ’24, JPM grew net revenue and EPS +11% and +13% respective ...

Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>> Here are the key points: For 2024 Q2, S&P 500 earnings are expected to be up +8.0% from the same period last year on +4.6% higher revenues. This will be the highest earnings growth rate since the +9.9% growth rate in the first quarter of 2022. Earnings growth for the Energy sector is on tra ...

When it comes to stock market movements, earnings are the ultimate driver.The second-quarter earnings season unofficially kicks off this week. Early reports have already begun to trickle in, with the focus now turning to the major bank results on Friday.The setup heading into the season is favorable; S&P 500 earnings are projected to grow 8.6% from the year-ago period on 4.7% higher revenues. That would mark the highest EPS growth rate in about two years. The theme of accelerating earnings growth and contin ...

Citigroup Inc. (C) is slated to report second-quarter 2024 results on Jul 12, before the opening bell. With the C stock currently trading at almost a two-year high of $66.55, should you buy it before the release of its quarterly results? Before we analyze the stock’s investment worthiness, let’s first check out how it is expected to fare this time. A globally diversified financial services holding company is expected to register bottom- and top-line growth in the to-be-reported quarter.The Zacks Consensus E ...

Citigroup Inc. (C) will discontinue its operations in Haiti, marking the end of the company's more than five-decade presence in the country. This move will be immaterial to Citi and its international clients in economic terms.Citi will seek approval from Banque de la République d’Haiti (BRH) — Haiti’s central bank — to voluntarily surrender its banking license. However, international banking and correspondent banking services will remain accessible to existing clients.This move stemmed from a strategic busi ...