Citigroup Earnings: Here’s Why Investors Like These Results

Citigroup, Inc. (NYSE:C) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0%.

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Citigroup, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 16.22% to $1.29 in the quarter versus EPS of $1.11 in the year-earlier quarter.

Revenue: Decreased 99.92% to $20.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Citigroup, Inc. reported adjusted EPS income of $1.29 per share. By that measure, the company beat the mean analyst estimate of $1.17. It missed the average revenue estimate of $20.17 billion.

Quoting Management: “Citigroup benefited from seasonally strong results in our markets businesses, sustained momentum in investment banking, continued year-over-year growth in loans and deposits in Citicorp, and a more favorable credit environment.” said CEO Michael Corbat.

Key Stats (on next page)…

Revenue decreased 99.91% from $22.87 billion in the previous quarter. EPS increased 86.96% from $0.69 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.14 to a profit $1.13. For the current year, the average estimate has moved down from a profit of $4.67 to a profit of $4.61 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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