Citigroup (C) Q3 Earnings: What To Expect

C Cover Image

Global financial services giant Citigroup (NYSE: C) will be announcing earnings results this Tuesday before market hours. Here’s what you need to know.

Citigroup beat analysts’ revenue expectations by 3.5% last quarter, reporting revenues of $21.67 billion, up 8.2% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ net interest income estimates.

Is Citigroup a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Citigroup’s revenue to grow 4.5% year on year to $21.11 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.93 per share.

Citigroup Total Revenue

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 twice 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, the whole sector has faced a sell-off over the last month with stocks in Citigroup’s peer group down 6.1% on average. Citigroup is down 6.1% during the same time and is heading into earnings with an average analyst price target of $110.64 (compared to the current share price of $93.75).

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