Citigroup is expected to release its second-quarter earnings results on Friday.
Here is what Wall Street is expecting from the global banking giant:
- Earnings: $1.56 per share forecast by Thomson Reuters
- Revenue: $18.512 billion expected by Reuters
- Fixed income, currency and commodities trading revenue: $3.11 billion forecast by StreetAccount
- Deposits: $1.009 trillion expected
- Loans: $680.40 billion forecast
Shares of Citigroup were down more than 8 percent for the year heading into Friday’s report, lagging peers such as Bank of America and J.P. Morgan Chase. Bank of America and JPMorgan Chase are down 2.6 percent and 0.4 percent, respectively.
Citigroup announced in late June it would hike its quarterly dividend by 13 cents to 45 cents a share, and buy back $17.6 billion in stock over the next 12 months after passing the Federal Reserve’s annual stress test.
The bank reported better-than-expected earnings and revenue for the first quarter back in April 13. Its results from that time-period got a boost from lower corporate taxes and strong trading revenue.
Earlier Friday, JPMorgan Chase kicked off earnings season when it reported its second-quarter results.
