Banking, finance, and taxes

Citi Sneaks Past Earnings Estimates, Huge Discount To Book Value (C, JPM)

Citigroup, Inc. (NYSE: C) is out with earnings and the headline figure looks like a substantial beat at $1.23 EPS versus $0.82 EPS estimates.  The headline number includes an accounting benefit of $0.39, similar to what J.P. Morgan Chase & Co. (NYSE: JPM) had reported.  The operating number looks like it would have been $0.84 PS without the benefit.

We have already noted that book value will be a ceiling rather than floor, but these are the book values: stated book value $60.56 per share, tangible book value $49.50.

Citigroup won in fixed income trading $3.8 billion in trading revenues, but only $634 million in revenue came from equity trading.

Another key metric is capital ratios, and Citi noted that its Tier-1 common equity ratio was 11.7% and its Tier-1 Capital ratio was 13.5%.

Citigroup shares are up 1.5% at $25.84 in the pre-market trading indications with about 90 minutes until the opening bell.

JON C. OGG

Take Charge of Your Retirement: Find the Right Financial Advisor For You in Minutes (Sponsor)

Retirement planning doesn’t have to feel overwhelming. The key is finding professional guidance—and we’ve made it easier than ever for you to connect with the right financial advisor for your unique needs.

Here’s how it works: 

1️ Answer a Few Simple Questions

Tell us a bit about your goals and preferences—it only takes a few minutes!

2️ Get Your Top Advisor Matches

This tool matches you with qualified advisors who specialize in helping people like you achieve financial success.

3️ Choose Your Best Fit

Review their profiles, schedule an introductory meeting, and select the advisor who feels right for you.

Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.