Financial News

Earnings To Watch: Citigroup (C) Reports Q2 Results Tomorrow

C Cover Image

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

Citigroup beat analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $21.62 billion, up 2.8% year on year. It was a strong quarter for the company, with a solid beat of analysts’ net interest income estimates and a narrow beat of analysts’ tangible book value per share estimates.

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

This quarter, analysts are expecting Citigroup’s revenue to grow 4.4% year on year to $20.93 billion, improving from the 3.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.60 per share.

Citigroup Total Revenue

Heading into earnings, analysts covering the company have mixed opinions about the business, with revenue estimates seeing 4 upward and 7 downward revisions over the last 30 days. Citigroup has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 0.8% on average.

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 10.3% on average over the last month. Citigroup is up 11.1% during the same time and is heading into earnings with an average analyst price target of $94.40 (compared to the current share price of $86.70).

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