Citigroup to report first-quarter earnings before the bell

1 month ago

Jane Fraser, CEO of Citi, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 1, 2023. 

Patrick T. Fallon | AFP | Getty Images

Citigroup is due to report first-quarter earnings before the opening bell Friday.

Here's what Wall Street expects:

Earnings: $1.23 a share, according to LSEGRevenue: $20.4 billion, according to LSEGNet Interest Income: $13.62 billion, according to StreetAccountTrading Revenue: Fixed income of $4.14 billion and equities of $1.12 billion, according to StreetAccount

Citigroup CEO Jane Fraser has finished her sweeping corporate overhaul, including thousands of layoffs — now what?

Fraser has said that the impact to employees would be complete by March, and that the firm would give an update to severance expenses along with first-quarter results.

Last year, Fraser announced plans to simplify the management structure and reduce costs at the third-biggest U.S. bank by assets. Now, analysts want to know if Citigroup can maintain its previous guidance for full-year revenue and expense targets.

JPMorgan Chase reported results earlier Friday, and Goldman Sachs reports on Monday.

This story is developing. Please check back for updates.

Read Full Article at Source