Patrick T. Fallon | Bloomberg | Getty Images
Michael Corbat, chief executive officer of Citigroup Inc., speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, April 30, 2018.
Citigroup is set to release its third-quarter results before the opening bell on Friday.
Here is what Wall Street is expecting from the banking giant:
- Earnings: $1.69 per share expected by Refinitiv
- Revenue: $18.501 billion forecast
- Fixed income trading revenue: $2.95 billion forecast by StreetAccount
- Investment banking revenue: $1.2 billion expected by StreetAccount
- Loans: $678 billion expected by StreetAccount
Citigroup’s stock is down more than 6 percent year to date, lagging that of rival J.P. Morgan Chase, which is up around 2 percent in 2018. J.P. Morgan reported better-than-expected earnings earlier on Friday, sending the stock up slightly in the premarket.
The report comes after Citigroup merged its corporate and investment bank with its capital markets business. According to a memo obtained by CNBC in September, the move’s objective is helping Citigroup compete for lucrative advisory and capital market deals.
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