Citigroup (C) 2Q 2022 earnings

Citigroup (C) 2Q 2022 earnings

Citigroup is scheduled to report second-quarter earnings earlier than the opening bell Friday.

This is what Wall Avenue expects:

  • Earnings per share: $1.68, in keeping with Refinitiv
  • Income: $18.22 billion, 4.2% increased than a 12 months earlier, in keeping with Refinitiv
  • Buying and selling Income: Mounted Earnings, $4.06 billion; Equities, $1.31 billion, in keeping with StreetAccount
  • Funding Banking: $922.8 million

Having a low inventory worth hasn’t protected Citigroup from additional declines. It is the most cost effective of the six largest U.S. banks from a valuation perspective, having declined 27% this 12 months. On Thursday, Citigroup shares hit a contemporary 52-week low.

How will Citigroup CEO Jane Fraser start to show the tide? Fraser has introduced plans to exit retail banking markets exterior the U.S. and set medium-term return targets in March. However there aren’t any simple solutions.

Financial institution shares have been hammered this 12 months over considerations that the U.S. is going through a recession, which might result in a surge in mortgage losses. Like the remainder of the business, Citigroup can be contending with a pointy decline in funding banking income, partly offset by an anticipated enhance to buying and selling ends in the quarter.

On Thursday, larger rival JPMorgan Chase posted outcomes that missed expectations because it constructed reserves for unhealthy loans, and Morgan Stanley disenchanted on a worse-than-expected slowdown in funding banking charges.

Financial institution of America and Goldman Sachs are scheduled to report outcomes on Monday.

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