Citigroup (C) Q3 2021 Results
A Citibank sign outside one of the company’s offices in California.
Justin Sullivan | Getty Images
Citigroup is expected to release its third quarter results before the bell Thursday.
Wall Street is forecasting earnings per share of $ 1.65 on revenue of $ 16.97 billion, based on consensus estimates from Refinitiv. As part of this, analysts expect $ 3.07 billion in income from fixed income trading and $ 909.7 million in income from stock trading, according to StreetAccount estimates.
In addition to the results, investors will research Citi’s expectations for economic recovery, interest rates and loan creation. They will also be looking for a new look at CEO Jane Fraser’s plan for the bank, which she took over earlier this year.
For the second quarter, Citi exceeded both earnings and earnings expectations due in part to a profit of $ 1.1 billion in loan loss reserves. The bank also announced in April that it was withdrawing from its retail operations in 13 countries other than the United States.
JPMorgan kicked off the banking earnings season on Wednesday by beating earnings expectations with a $ 1.5 billion increase in loan loss reserves.
Citi shares are up about 14% year-to-date, which is lower than the returns of the KBW Bank Index and some of its large-cap peers.
This story is developing. Please check for updates.
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