Citigroup Inc (NYSE:C) will report earnings alongside other big banks Friday morning when the company will look to extend its streak of recent earnings beats.
The bank is expected to report revenue of $19.27 billion and earnings of $1.19 per share, compared to revenue of $18.5 billion and earnings of $1.63 per share a year earlier.
Citi has managed an earnings surprise in each of the last four quarters.
Investors will be watching for the bank’s expenses and efficiencies, as rising operating costs have hurt Citi’s profitability, according to reports.
JPMorgan Chase & Co (NYSE:JPM) is expected to have outperformed Citigroup, along with Wells Fargo & Company (NYSE:WFC) in terms of profitability, according to data compiled by Bloomberg.
The banks are universally grappling with a slowing economy and high interest rates.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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