Here comes Citi…

Citigroup is expected to report Q1 earnings at 8 a.m. Friday.

Analysts are expecting adjusted earnings per share of $1.05 on revenue of $17.53 billion, according to Bloomberg.

In the same quarter last year, Citi reported earnings of $1.52 per share (versus $1.39 expected) on revenue of $19.80 billion ($19.83 expected).

Last quarter, Citi beat expectations, reporting adjusted earnings per share of $1.06 ($1.05 expected) on revenue of $18.64 billion ($17.93 billion expected).

The first quarter is typically the strongest for investment banks, but analysts are expecting an unusually weak Q1 earnings season on Wall Street this year.

Choppy trading conditions in early 2016, fears over China’s growth, and a collapsed oil price have created a
“perfect storm”
for banks. More on that here.

Bank of America, and Wells Fargo have already reported first-quarter earnings, each beating or matching analyst expectations despite significant declines in profit.

Morgan Stanley will report Q1 earnings on Monday.

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