Citigroup Inc. showed off its earnings numbers for the three months ending September 2015 on Thursday, October 15 before the bell for the day on in New York. The firm’s earnings came in at $1.35 per share for the quarter while revenue came in at $4.29B.
In the same period of last year, Citigroup Inc. managed to earn $0.88 per share. Sales for the same quarter in 2014 came in at $2.84B. In the three months heading into the release of today’s results, Citigroup Inc. stock has lost 6.47% of their value.
Here’s what Wall Street expected from Citigroup Inc.
Heading into the publication of these numbers, Wall Street forecast that Citigroup Inc. had earned $1.21 per share by consensus. Revenue was thought to have hit $19.05B for the quarter.
30 analysts were following Citigroup Inc. in the months before the firm put out these numbers. 11 analysts told clients the firms were a Buy, 15 analysts said they thought investors should make the stock Overweight, 3 analysts reported that the best strategy was to Hold the shares. None of the analyst advised that their readers hold the firm Underweight and 1 analyst thought the best move was to Sell the stock ahead of earnings.
Citigroup Inc. earnings in context
Citigroup Inc. is a financial services holding company, whose businesses provide consumers, corporations, governments and institutions with financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services, and wealth management. The Company operates through two primary business segments: Citicorp and Citi Holdings. Citicorp consists of the operating businesses: Global Consumer Banking, which consists of consumer banking in North America, EMEA, Latin America and Asia, and Institutional Clients Group, which includes Banking and Markets and securities services.
For the twelve months in 2015 Wall Street thinks that Citigroup Inc. will manage a profit of $5.56 per share. The full sales number for the fiscal year is expected to amount to $76.18B. In its prior fiscal year, Citigroup Inc. made $2.20 per share. Total revenue for the firm’s last fiscal year came in at $77.27B.