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Compared to Estimates, Citigroup (C) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2024, Citigroup (C - Free Report) reported revenue of $20.14 billion, up 3.6% over the same period last year. EPS came in at $1.52, compared to $1.37 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $20.03 billion, representing a surprise of +0.54%. The company delivered an EPS surprise of +8.57%, with the consensus EPS estimate being $1.40.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Citigroup performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Book value per common share: $99.70 versus the seven-analyst average estimate of $100.20.
Net Interest Margin (FTE): 2.4% versus 2.4% estimated by seven analysts on average.
Efficiency Ratio: 66.3% versus the seven-analyst average estimate of 67.5%.
Average balance - Total interest-earning assets: $2,256.92 billion versus $2,267 billion estimated by six analysts on average.
Revenue by component- Markets- Fixed Income markets- Fixed Income markets Total: $3.56 billion versus the three-analyst average estimate of $3.71 billion.
Revenue by component- Markets- Equity Markets: $1.52 billion versus $1.09 billion estimated by three analysts on average.
Markets Revenues, net of interest expense: $5.09 billion versus the three-analyst average estimate of $4.80 billion.
Revenue by component- US Personal Banking (USPB)- Retail Services: $1.75 billion versus the two-analyst average estimate of $1.74 billion.
Revenue by component- US Personal Banking (USPB)- Retail Banking: $636 million versus the two-analyst average estimate of $682.62 million.
Wealth Revenues- Total non-interest revenue: $767 million compared to the $733.67 million average estimate based on two analysts.
Revenue by component- Wealth- Private Bank: $611 million versus $573.40 million estimated by two analysts on average.
Revenue by component- Wealth- Wealth at Work: $195 million versus $220.21 million estimated by two analysts on average.
Shares of Citigroup have returned +9.1% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Citigroup (C) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2024, Citigroup (C - Free Report) reported revenue of $20.14 billion, up 3.6% over the same period last year. EPS came in at $1.52, compared to $1.37 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $20.03 billion, representing a surprise of +0.54%. The company delivered an EPS surprise of +8.57%, with the consensus EPS estimate being $1.40.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Citigroup performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Book value per common share: $99.70 versus the seven-analyst average estimate of $100.20.
- Net Interest Margin (FTE): 2.4% versus 2.4% estimated by seven analysts on average.
- Efficiency Ratio: 66.3% versus the seven-analyst average estimate of 67.5%.
- Average balance - Total interest-earning assets: $2,256.92 billion versus $2,267 billion estimated by six analysts on average.
- Revenue by component- Markets- Fixed Income markets- Fixed Income markets Total: $3.56 billion versus the three-analyst average estimate of $3.71 billion.
- Revenue by component- Markets- Equity Markets: $1.52 billion versus $1.09 billion estimated by three analysts on average.
- Markets Revenues, net of interest expense: $5.09 billion versus the three-analyst average estimate of $4.80 billion.
- Revenue by component- US Personal Banking (USPB)- Retail Services: $1.75 billion versus the two-analyst average estimate of $1.74 billion.
- Revenue by component- US Personal Banking (USPB)- Retail Banking: $636 million versus the two-analyst average estimate of $682.62 million.
- Wealth Revenues- Total non-interest revenue: $767 million compared to the $733.67 million average estimate based on two analysts.
- Revenue by component- Wealth- Private Bank: $611 million versus $573.40 million estimated by two analysts on average.
- Revenue by component- Wealth- Wealth at Work: $195 million versus $220.21 million estimated by two analysts on average.
View all Key Company Metrics for Citigroup here>>>Shares of Citigroup have returned +9.1% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.