Jane Fraser, CEO of Citigroup, attends a hearing on Annual Oversight of Wall Street Firms before the Senate Committee on Banking, Housing, and Urban Affairs in Washington, D.C., the United States, on Dec. 6, 2023.
Tom Williams | Cq-roll Call, Inc. | Getty Images
Citigroup reported first-quarter earnings before the opening bell Tuesday.
Here’s what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:
- Earnings: $1.96 per share, vs. expected $1.85 per share
- Revenue: $21.60 billion, vs. $21.29 billion expected
While its Wall Street peers feasted on booming stock trading revenue in the period, Citigroup’s trading division is much more tilted to fixed income than equities.
That may mean it doesn’t have quite the tailwind from trading as its rivals did.
JPMorgan Chase, Morgan Stanley and Goldman Sachs each exceeded analysts’ estimates on a boom in equities trading revenue as the banks took advantage of volatility in the quarter.
Shares of Citigroup have dropped 10% this year amid a broad selloff in banks related to President Donald Trump’s tariff policies.
This story is developing. Please check back for updates.
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