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Compared to Estimates, Citigroup (C) Q1 Earnings: A Look at Key Metrics
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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.
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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Compared to Estimates, Citigroup (C) Q1 Earnings: A Look at Key Metrics
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.