Citigroup to report first-quarter earnings before the bell

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Jane Fraser, CEO of Citi, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 1, 2023. 
Patrick T. Fallon | AFP | Getty Images

Citigroup is due to report first-quarter earnings before the opening bell Friday.

Here’s what Wall Street expects:

  • Earnings: $1.23 a share, according to LSEG
  • Revenue: $20.4 billion, according to LSEG
  • Net Interest Income: $13.62 billion, according to StreetAccount
  • Trading Revenue: Fixed income of $4.14 billion and equities of $1.12 billion, according to StreetAccount

Citigroup CEO Jane Fraser has finished her sweeping corporate overhaul, including thousands of layoffs — now what?

Fraser has said that the impact to employees would be complete by March, and that the firm would give an update to severance expenses along with first-quarter results.

Last year, Fraser announced plans to simplify the management structure and reduce costs at the third-biggest U.S. bank by assets. Now, analysts want to know if Citigroup can maintain its previous guidance for full-year revenue and expense targets.

JPMorgan Chase reported results earlier Friday, and Goldman Sachs reports on Monday.

This story is developing. Please check back for updates.

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