Citigroup Expected to Report Drop in Q4 2024 Earnings Per Share
Analysts estimates show likely decline in the banking company's revenue
Citigroup, Inc. [C] is likely to report a marginal drop in earnings per share to $1.24 in the fourth quarter of 2024, tracking a decline in revenue, analysts’ estimates show. The top financial institution's EPS was $1.51 in the third quarter that ended on September 30, 2024. The company’s EPS in Q4 of 2023 was $0.84.
The banking institution's revenue is expected to come in at $19.5 billion, which is the average of 12 analysts’ views, according to a report in Yahoo Finance. The lowest revenue estimate for Q4 is $19.5 billion and the highest $19.8 billion. No analysts that Yahoo Finance contacted expected the Q4 revenue to beat last quarter’s $20.3 billion.
Worries about the New York-based bank’s weaker performance put pressure on its shares on Wednesday (the markets are closed on Thursday in homage to President Jimmy Carter, who died last month), closing at $73.26, down $0.19 after opening at $73.45. Any significant erosion in the company’s profit, which was $3.2 billion in Q3, should trigger further selling.
