Citigroup Just Missed Its Revenue Estimates, Continuing String Of Mediocre Bank Earnings

vikram pandit

Photo: AP

Just out…Citigroup has missed its revenue outlook, posting $19.7 billion vs. more than $20 billion expected.

EPS of $.10 (on $3 billion in net income) were a bit ahead of estimates.

This generally continues the trend we’ve seen this quarter from other banks. Earnings have been fine. Revenues have been uninspired.

As for the key credit quality metric.. Citigroup provisions for credit losses and for benefits and claims improved by $5.4 billion, or 63%, year over year to $3.2 billion. Consumer net credit losses declined 32% from the prior year period.”

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