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Citigroup (C) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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Citigroup (C - Free Report) reported $19.44 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 1%. EPS of $1.37 for the same period compares to $2.30 a year ago.
The reported revenue represents a surprise of +0.37% over the Zacks Consensus Estimate of $19.36 billion. With the consensus EPS estimate being $1.31, the EPS surprise was +4.58%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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): 2.48% compared to the 2.3% average estimate based on seven analysts.
Efficiency Ratio: 70% versus the seven-analyst average estimate of 69.84%.
Average balance - Total interest-earning assets: $2,251.60 billion versus $2,239.27 billion estimated by six analysts on average.
Total non-accrual loans: $2.58 billion versus $3.36 billion estimated by three analysts on average.
Total Non Interest Income: $5.54 billion versus $6.65 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -27.9% change.
Institutional Clients Group Revenue- Investment Banking- Advisory: $162 million compared to the $253.81 million average estimate based on two analysts.
Institutional Clients Group Revenue- Total Markets Revenues: $4.62 billion versus the two-analyst average estimate of $4.51 billion.
Personal banking and wealth management- Branded Cards: $2.35 billion compared to the $2.48 billion average estimate based on two analysts. The reported number represents a change of +8.5% year over year.
Personal banking and wealth management- Retail Services: $1.65 billion compared to the $1.50 billion average estimate based on two analysts. The reported number represents a change of +26.6% year over year.
Personal banking and wealth management- Retail Banking: $594 million versus $707.61 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -9.5% change.
Personal banking and wealth management- U.S. Personal Banking: $4.59 billion versus the two-analyst average estimate of $4.69 billion. The reported number represents a year-over-year change of +11.4%.
Personal banking and wealth management- Global Wealth Management: $1.80 billion compared to the $1.88 billion average estimate based on two analysts. The reported number represents a change of -5.4% year over year.
Shares of Citigroup have returned -1.8% over the past month versus the Zacks S&P 500 composite's +3.4% 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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Citigroup (C) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Citigroup (C - Free Report) reported $19.44 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 1%. EPS of $1.37 for the same period compares to $2.30 a year ago.
The reported revenue represents a surprise of +0.37% over the Zacks Consensus Estimate of $19.36 billion. With the consensus EPS estimate being $1.31, the EPS surprise was +4.58%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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): 2.48% compared to the 2.3% average estimate based on seven analysts.
- Efficiency Ratio: 70% versus the seven-analyst average estimate of 69.84%.
- Average balance - Total interest-earning assets: $2,251.60 billion versus $2,239.27 billion estimated by six analysts on average.
- Total non-accrual loans: $2.58 billion versus $3.36 billion estimated by three analysts on average.
- Total Non Interest Income: $5.54 billion versus $6.65 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -27.9% change.
- Institutional Clients Group Revenue- Investment Banking- Advisory: $162 million compared to the $253.81 million average estimate based on two analysts.
- Institutional Clients Group Revenue- Total Markets Revenues: $4.62 billion versus the two-analyst average estimate of $4.51 billion.
- Personal banking and wealth management- Branded Cards: $2.35 billion compared to the $2.48 billion average estimate based on two analysts. The reported number represents a change of +8.5% year over year.
- Personal banking and wealth management- Retail Services: $1.65 billion compared to the $1.50 billion average estimate based on two analysts. The reported number represents a change of +26.6% year over year.
- Personal banking and wealth management- Retail Banking: $594 million versus $707.61 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -9.5% change.
- Personal banking and wealth management- U.S. Personal Banking: $4.59 billion versus the two-analyst average estimate of $4.69 billion. The reported number represents a year-over-year change of +11.4%.
- Personal banking and wealth management- Global Wealth Management: $1.80 billion compared to the $1.88 billion average estimate based on two analysts. The reported number represents a change of -5.4% year over year.
View all Key Company Metrics for Citigroup here>>>Shares of Citigroup have returned -1.8% over the past month versus the Zacks S&P 500 composite's +3.4% 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.