For the quarter ended March 2024, Citigroup (C - Free Report) reported revenue of $21.1 billion, down 1.6% over the same period last year. EPS came in at $1.58, compared to $1.86 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $20.3 billion, representing a surprise of +3.98%. The company delivered an EPS surprise of +39.82%, with the consensus EPS estimate being $1.13.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Citigroup performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin (FTE): 2.4% versus the seven-analyst average estimate of 2.4%.
- Efficiency Ratio: 67.3% compared to the 69.3% average estimate based on seven analysts.
- Average balance - Total interest-earning assets: $2,250.19 billion versus $2,252.88 billion estimated by six analysts on average.
- Supplementary Leverage Ratio: 5.8% compared to the 6.2% average estimate based on four analysts.
- Markets Revenues, net of interest expense: $5.38 billion versus $5.25 billion estimated by three analysts on average.
- Revenue by component- Markets- Equity Markets: $1.23 billion versus $2.08 billion estimated by three analysts on average.
- Revenue by component- Markets- Fixed Income markets- Fixed Income markets Total: $4.15 billion versus $7.41 billion estimated by three analysts on average.
- US Personal Banking Revenues, net of interest expense: $5.18 billion versus the two-analyst average estimate of $5.10 billion.
- Services Revenues, net of interest expense: $4.77 billion compared to the $4.75 billion average estimate based on two analysts.
- Corporate/ALL OTHER Revenues Managed Basis (net of interest expense): $2.39 billion compared to the $1.87 billion average estimate based on two analysts.
- Revenue by component- Services- Treasury and Trade Solutions Total: $3.52 billion versus $3.58 billion estimated by two analysts on average.
- Revenue by component- Services- Securities Services Total: $1.25 billion versus $1.18 billion estimated by two analysts on average.
View all Key Company Metrics for Citigroup here>>>Shares of Citigroup have returned +6.3% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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For the quarter ended March 2024, Citigroup (C - Free Report) reported revenue of $21.1 billion, down 1.6% over the same period last year. EPS came in at $1.58, compared to $1.86 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $20.3 billion, representing a surprise of +3.98%. The company delivered an EPS surprise of +39.82%, with the consensus EPS estimate being $1.13.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Citigroup performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin (FTE): 2.4% versus the seven-analyst average estimate of 2.4%.
- Efficiency Ratio: 67.3% compared to the 69.3% average estimate based on seven analysts.
- Average balance - Total interest-earning assets: $2,250.19 billion versus $2,252.88 billion estimated by six analysts on average.
- Supplementary Leverage Ratio: 5.8% compared to the 6.2% average estimate based on four analysts.
- Markets Revenues, net of interest expense: $5.38 billion versus $5.25 billion estimated by three analysts on average.
- Revenue by component- Markets- Equity Markets: $1.23 billion versus $2.08 billion estimated by three analysts on average.
- Revenue by component- Markets- Fixed Income markets- Fixed Income markets Total: $4.15 billion versus $7.41 billion estimated by three analysts on average.
- US Personal Banking Revenues, net of interest expense: $5.18 billion versus the two-analyst average estimate of $5.10 billion.
- Services Revenues, net of interest expense: $4.77 billion compared to the $4.75 billion average estimate based on two analysts.
- Corporate/ALL OTHER Revenues Managed Basis (net of interest expense): $2.39 billion compared to the $1.87 billion average estimate based on two analysts.
- Revenue by component- Services- Treasury and Trade Solutions Total: $3.52 billion versus $3.58 billion estimated by two analysts on average.
- Revenue by component- Services- Securities Services Total: $1.25 billion versus $1.18 billion estimated by two analysts on average.
View all Key Company Metrics for Citigroup here>>>Shares of Citigroup have returned +6.3% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
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