Earnings

Citigroup to report first-quarter earnings before the bell

In this article

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.

Products You May Like

Articles You May Like

Here’s why you may be saving more in your 401(k) — and not even know it
Here’s how U.S. health officials are responding to bird flu in humans after second case
Nvidia shares pop 10% to record high after forecast signals unwavering demand for AI chips
How Much Money Do You Really Need To Retire Comfortably?
25% of consumers recently used a buy now, pay later loan, report finds. What to know as they become popular

Leave a Reply

Your email address will not be published. Required fields are marked *