Citigroup's Results: What to Watch For

Date : 07/12/2018 @ 3:11PM
Source : Dow Jones News
Stock : Citigroup, Inc. (C)
Quote : 69.22  0.23 (0.33%) @ 7:43PM

Citigroup's Results: What to Watch For

Citigroup, Inc. (NYSE:C)
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1 Month : From Jun 2018 to Jul 2018

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By Telis Demos 

Citigroup is slated to report second-quarter financial results Friday. Here's what to look for.

1. Better Earnings

Analysts are expecting $18.46 billion in revenue, a 2% increase from a year ago. Earnings per share is forecast to grow to $1.56, up from $1.28 a year ago, thanks to a rise in net income to $4.00 billion from $3.87 billion.

2. Equity Driven

The bank is expecting just "flattish" trading revenue from a year ago, in contrast to a first-quarter surge. But like last quarter, the bank believes the real driver will again be an upswing in equities trading, which will make up for tepid results in fixed income.

3. Private Banking Push

Citigroup doesn't have the vast brokerage network that rivals do, but it has invested in its ultra-high-net-worth private banking unit in recent years. The unit is on the cusp of $1 billion in quarterly revenues, so it may start to command more of analysts' attention.

4. Trade Winds

So far, Citigroup's revenue in Mexican retail banking and its treasury and trade services business managing global money flows for companies hasn't felt the effects of political change or trade fights. But as tensions ratchet higher, scrutiny will likely grow, too.

5. Digital Update

Citigroup earlier this year announced a new digital banking strategy, in which it will try to reach customers beyond its branch network via its mobile app. It hasn't set any specific expectations of that effort yet, but analysts will be focused on whether the bank's tech costs are rising faster.

Write to Telis Demos at telis.demos@wsj.com

 

(END) Dow Jones Newswires

July 12, 2018 14:56 ET (18:56 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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