Citigroup Inc (C) Stock Dips Despite Q3 Earnings Beat

13 Октября, 2017, 10:59 | Author: Leticia Walters
  • Citigroup FICC Trading Revenue Matches 3Q Estimates

JPMorgan dropped 0.9 per cent after reporting a seven percent rise in profits to $6.7 billion. However, the bank's trading revenue was down just 11% from the same quarter a year ago, to $3.63 billion, compared with the bank's forecast of a roughly 15% drop. This is down 16% from its fixed income markets revenue of $3.41 billion reported during the same time previous year. Fixed Income Markets revenues plunged 16% $2.9 billion, hurt by lower G10 rates and currencies revenues.

Revenues rose 2.3% from a year ago to $18.17 billion, also beating analysts' view for $17.87 billion.

Like its Wall Street rival JP Morgan Chase & Co (NYSE:JPM) - which reported its results earlier today - Citi recorded a 16% year-on-year decline in fixed income trading revenue which totalled US$2.88bn. At $1.42 a share, earnings topped the consensus estimate of Wall Street analysts of $1.32 a share. Analysts had expected earnings of $1.65 per share, according to Thomson Reuters I/B/E/S.

FILE PHOTO: A view of the exterior of the Citibank Corporate headquarters in the Manhattan borough of New York City, May 20, 2015.

Bank of America Corp and Wells Fargo & Co, the second- and third-biggest USA banks by assets, are due to report results on Friday.

Читайте также: Davido reacts, after autopsy report reveals Tagbo died of suffocation

Citigroup Inc shares fell $0.34 (-0.45%) in premarket trading Thursday. JPMorgan's net interest income, or the difference between what it pays for funds and collects from lending them out, rose 10 percent.

The increase in revenues were driven by growth in both the Institutional Clients Group and Global Consumer Banking segments, partially offset by lower revenues in Corporate/Other segment primarily due to the continued wind-down of legacy costs.

Corbat told analysts the uptick in provisions were a normal part of the credit cycle and did not point to evidence of consumers under stress.

Revenue from the North American branded cards business declined 1 percent, even though the company had said that it expected a significant payoff in the last half of this year from earlier investments in its card business with retailer Costco and from its promotion of its Double Cash card.

Hopes are fading that U.S. President Donald Trump will be able to stimulate bond trading activity and boost demand for loans through a yet-to-materialize tax overhaul and loosening in financial regulations.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2017 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Recommended:

  • Exxon Mobil Corp (XOM) Stake Has Boosted by Geode Capital Management Llc

    The stock of Ares Capital Corporation (NASDAQ:ARCC) has "Buy" rating given on Wednesday, June 14 by Keefe Bruyette & Woods. Horan Securities Inc. acquired a new position in Exxon Mobil Corporation in the first quarter valued at about $102,000.
    Trump warns federal help for Puerto Rico not open-ended

    Trump warns federal help for Puerto Rico not open-ended

    FEMA's focus, the official said , is to "move from the response phase to recovery", adding the recovery phase often takes years. The lack of electricity has been the biggest problem for Puerto Rico's 3.4 million residents.
    Bato: PNP now hands off on drug war

    Bato: PNP now hands off on drug war

    The letter says over 13,000 people have been killed in what they call "Duterte's war on people who use drugs". Abella said the PDEA would now elevate the campaign against illegal drugs as it has widened its scope.
  • Wal-Mart Stores Inc (WMT) Shares Sold by Pinnacle Advisory Group Inc

    Wal-Mart Stores Inc (WMT) Shares Sold by Pinnacle Advisory Group Inc

    Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued. On July 14 the company was set at "Buy" according to a Goldman Sachs report a boost from the previous "Neutral" rating.
    Tesla is Recalling a large batch of cars

    Tesla is Recalling a large batch of cars

    Tesla said that the affected models were produced between October 28 last year and August 16 this year. If the cables don't lock properly, the row of seats could move forward in the event of a crash.
    Here's Footage Of 'Game Of Thrones' Star Jason Momoa Joking About Rape

    Here's Footage Of 'Game Of Thrones' Star Jason Momoa Joking About Rape

    Actors Gal Gadot, Jason Momoa and Ben Affleck during the Justice League autograph signing at Comic-Con International 2017. I'm not a rapist! I love her, but I'm hurting her and she's crying. "I prefer my women to enjoy sex", he said.
  • Samsung Electronics predicts record high operating profit for Q3

    Samsung Electronics predicts record high operating profit for Q3

    Revenue likely rose 29.7 percent from a year earlier to 62 trillion won, Samsung said in a regulatory filing. The consumer electronics division will also benefit from strong seasonal demand, he added.

    Federal Realty Investment Trust (FRT)'s Stock Is Buy After Forming

    The Illinois-based Chicago Equity Partners Llc has invested 0.25% in Digital Realty Trust, Inc. (NYSE: EDR ) for 222,776 shares. Sempra South American Utilities operates Chilquinta Energia, which serves clients in the region of Valparaiso in central Chile.
    Trump interview with Hannity in Harrisburg: How to watch

    Trump interview with Hannity in Harrisburg: How to watch

    But from his point of view, the U.S.is just a few good quarters away from accomplishing that goal ahead of schedule. No, a far more appropriate measurement would be to compare the national debt to the size of the national economy.
  • Looking at Canadian Pacific Railway Limited (CP.TO)'s Levels

    Looking at Canadian Pacific Railway Limited (CP.TO)'s Levels

    It is positive, as 8 investors sold UAN shares while 18 reduced holdings. 57 funds opened positions while 106 raised stakes. Fifteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock.
    Michael Jordan expresses concerns with NBA's competitive balance

    Michael Jordan expresses concerns with NBA's competitive balance

    Barring any major injuries, the Warriors will be the prohibitive favorites to win the championship again. All they think about is he batted.202, and he struck out a certain number of times.
    Goodyear Tire Rubber (GT)'s Chaikin Flow Showing Positive Signal

    Goodyear Tire Rubber (GT)'s Chaikin Flow Showing Positive Signal

    Current trade price levels places GT's stock about -11.24% away from the 52-week high and closed 23.12% away from the 52-week low. With 537,400 avg volume, 21 days are for Cooper Tire & Rubr Company (NYSE:CTB)'s short sellers to cover CTB's short positions.


Popular

Paul Scholes Interviewed For Vacant Oldham Managerial Position
The club will decide whether to appoint him or Scholes in the next couple of days. "I just did not feel this was the right time". Latics, who are now 19th in the League One table, have been in search of a new manager since John Sheridan left in September.

Lionel Messi offered £90m to quit Barcelona for Man City
He was believed to be frozen out by Guardiola and possibly sold during the summer, with the manager favouring Brazilian talent Gabriel Jesus.

Government unveils sweeping strategy for deep emissions cuts across United Kingdom economy
The government will also invest £900 million in smart systems and demand-response technology, as well as nuclear and renewables. It's as big a change as the move from the age of steam to the age of oil and Britain is showing the way.

Missing elderly woman feared taken by croc
Locals say a 3.5 to 4m crocodile had been spotted in the area recently. He said reports the woman's clothes had been folded were "inaccurate".

FIFA bans Pakistan Football Federation over 'undue 3rd-party interference'
First of all, the PFF's teams, both national and affiliated, face a ban from playing in worldwide competitions. The PFF will also be barred from all contact with other member associations for the duration of the ban.

Tendencies