Jane Fraser speaks during the Milken Institute Global Conference in Beverly Hills, California, USA, on Monday, April 29, 2019.
Kyle Grillot | Bloomberg via Getty Images
Citigroup released its fourth-quarter earnings Wednesday morning before Wall Street opened.
Here’s how the company fared against LSEG analyst consensus estimates:
- Earnings: $1.34 per share, compared with expectations of $1.22
- Revenue: $19.58 billion, versus $19.49 billion expected
Growth in investment banking and equity markets revenue helped Citi report better-than-expected u the third quarterand these could again be sources of strength in the fourth quarter. Chief Financial Officer Mark Mason said at a Goldman Sachs conference in December that Citi saw double-digit growth in investment banking and markets fees year over year, according to a transcript from FactSet.
Year-over-year comparisons for Q4 revenue metrics can be complicated due to charge Citi booked in the final period of 2023.
Investors will also be looking for progress updates on chief executive Jane Fraser’s turnaround efforts. Fraser took over the bank in March 2021 and focused on downsizing the company, including the sale of some international units.
Citi stock has performed well in 2024, rising nearly 37% year-to-date. Shares are up more than 4% this year.
