Citigroup (C) Beats on Q2 Earnings & Revenue Estimates

Citigroup came out with adjusted earnings per share of $1.62, surpassing the Zacks Consensus Estimate of $1.54. Further, the figure compared favorably with earnings of $1.28 in the prior-year quarter. Improvement in earnings was primarily driven by higher revenues and expense management.

How Was the Estimate Revision Trend?

You should note that the earnings estimate for Citigroup depicted pessimism prior to the earnings release. The Zacks Consensus Estimate was revised downward slightly over the last seven days.

Also, Citigroup has a decent earnings surprise history. Before posting earnings beat in Q2, the company also delivered positive surprises in the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 6.11% in the trailing four quarters.
 ” data-reactid=”31″>Have you been eager to see how Citigroup C performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based money center bank’s earnings release this morning:

An Earnings Beat

Citigroup came out with adjusted earnings per share of $1.62, surpassing the Zacks Consensus Estimate of $1.54. Further, the figure compared favorably with earnings of $1.28 in the prior-year quarter. Improvement in earnings was primarily driven by higher revenues and expense management.

How Was the Estimate Revision Trend?

You should note that the earnings estimate for Citigroup depicted pessimism prior to the earnings release. The Zacks Consensus Estimate was revised downward slightly over the last seven days.

Also, Citigroup has a decent earnings surprise history. Before posting earnings beat in Q2, the company also delivered positive surprises in the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 6.11% in the trailing four quarters.
 

Citigroup Inc. Price and EPS Surprise

Citigroup Inc. Price and EPS Surprise | Citigroup Inc. Quote

 

  • Net Income stood at $4.5 billion, up 16% from the prior year quarter.
  • Costs of credit surged 6% year over year to $1.8 billion.
  • Fixed income markets revenues declined 6% year over year to $3.1 billion
  • Equity markets revenues of $864 million surged 19% from the prior-year quarter.
  • Returned $3.1 billion to shareholders as common stock repurchases and dividends during the quarter.

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