Here comes Citi … (C)

Michael Corbat

Citigroup on Monday is announcing earnings results from the first quarter.
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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.

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Source:: Insider – Business


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