Global financial services giant Citigroup (NYSE:C) will be reporting earnings this Tuesday before market open. Here’s what to expect.
Citigroup missed analysts’ revenue expectations last quarter, reporting revenues of $19.9 billion, up 2.1% year on year. It was a slower quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EPS estimates.
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This quarter, the market is expecting Citigroup’s revenue to grow 8.4% year on year, improving from the 2.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Citigroup has missed Wall Street’s revenue estimates multiple times over the last two years.
With Citigroup being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for banks stocks. However, there has been positive investor sentiment in the segment, with share prices up 8.5% on average over the last month. Citigroup is up 16% during the same time .
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