Citigroup Earnings: C Stock Pops 2% on Better-Than-Expected Q3

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Citigroup (NYSE:C) earnings for the financial institution’s third quarter of 2019 has C stock up on Tuesday. This comes from its per-share earnings of $2.07, which beats Wall Street’s estimate of $1.95 for the quarter. Revenue of $18.57 billion also comes in above analysts’ estimate of $18.55 billion for the period.

Citigroup Earnings: C Stock Pops 2% on Better-Than-Expected Q3

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Here’s what else is noteworthy from the most recent Citigroup earnings report.

  • EPS for the quarter is up 19.65% YoY from $1.73.
  • Revenue is sitting 1% higher than the $18.39 billion from the same time last year.
  • Income from continuing operations of $4.94 billion is a 3% increase from $4.79 billion in the third quarter of 2018.
  • The Citigroup earnings report also includes net income of $4.91 billion.
  • That’s 6.28% better than C’s net income of $4.62 billion from the same period of the year prior.

Michael Corbat, CEO of the company, says this in the current Citigroup earnings report.

“Despite an unpredictable environment throughout the quarter, we continue to deliver on our strategy of improving shareholder returns through consistent, client-led growth while also executing against our capital plan. Our Global Consumer Banking franchise performed well in the quarter, showing solid underlying revenue growth of 4% and an EBT increase of 17%.”

The Citigroup earnings report doesn’t include an outlook for 2019. Despite this, we know that Wall Street is looking for earnings per share of $7.61 on revenue of $73.98 billion for the full year of 2019.

C stock was up 2.08% as of Tuesday afternoon. The stock is also up 31.27% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/10/citigroup-earnings-have-c-stock-up/.

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