Q1 26 EPS
$3.06
Q1 26 Revenue
$24.63B
Did C Beat Earnings? Q1 2026 Results
Citigroup delivered a standout first quarter for 2026, with net income climbing 42% year-over-year to $5.79 billion as earnings per diluted share reached $3.06, up sharply from $1.96 in the same period last year, on revenue of $24.63 billion. The hea… Read more Citigroup delivered a standout first quarter for 2026, with net income climbing 42% year-over-year to $5.79 billion as earnings per diluted share reached $3.06, up sharply from $1.96 in the same period last year, on revenue of $24.63 billion. The headline driver was broad strength across the bank's five business segments, with Markets crossing $7.00 billion in quarterly revenue for the first time on a 19% gain, powered by a 39% surge in Equity markets tied to derivatives, prime services, and cash equities, while Services grew 17% on deposit spread expansion in Treasury and Trade Solutions and Securities Services. A lower effective tax rate of approximately 21%, down from 25% a year ago, further amplified the bottom-line result, though higher operating expenses of $14.31 billion and a $2.81 billion provision for credit losses, including a $597 million reserve build reflecting macroeconomic uncertainty, tempered gains. With 90% of Transformation programs now at or near target state, management reaffirmed its 10-11% RoTCE target for 2026 and signaled further detail at next month's Investor Day.
Key Takeaways
- • 14% revenue growth driven by growth in each of Citi's five interconnected businesses
- • Net interest income increased 12% driven by growth across all five businesses
- • Non-interest revenue increased 17% driven by growth across all five businesses
- • Lower effective tax rate of approximately 21% vs 25% in prior-year period, driven by a discrete item
- • Net credit losses declined 10% year-over-year
- • Prime balances grew to a record, up more than 50%
- • End-of-period deposits up 10% to approximately $1.4 trillion
- • End-of-period loans up 8% to $762 billion
- • Strong commodities performance driving spread products revenue up 27%
- • ECM fees increased 64% driven by follow-ons and convertibles
- • Advisory fees increased 19% reflecting continued growth in sell-side fees and strong sponsor performance
C Forward Guidance & Outlook
Citigroup remains on track to deliver a 10-11% return on average tangible common equity (RoTCE) target for 2026. The company has entered the final phase of its divestitures, with 90% of Transformation programs now at or near target state. Management plans to discuss its forward path and upside opportunities at next month's Investor Day. The provision for credit losses reflected increased uncertainty in the macroeconomic outlook, with a $597 million ACL build. The USCC provision included a reserve build related to the forward purchase commitment of the Barclays American Airlines co-branded card portfolio.
C YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
C Revenue by Segment
With YoY comparisons, source: SEC Filings
“We're off to an exceptionally strong start in 2026, with revenue up 14% and net income growing 42%. Services had an outstanding quarter with revenue up 17% and Markets crossed $7 billion in revenue. Banking continued to build momentum with fees up 12% amid a record first quarter in M&A. Wealth saw revenue grow 11% and continued to improve its returns and U.S. Consumer Cards saw 4% revenue growth and returns of nearly 20%. Our diversified business model continues to drive consistent revenue growth and we remain a source of financial strength and trust for our clients during uncertain times.”
— Jane Fraser, Q1 2026 Earnings Press Release
C Earnings Trends
C vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
C EPS Trend
Earnings per share: estimate vs actual
C Revenue Trend
Quarterly revenue: estimate vs actual
C Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $3.06 | — | $24.63B | — |
| Q4 25 MISS FY | $1.62 | $1.19 | -26.54% | $19.87B | — |
| FY Full Year | $7.96 | — | — | $85.23B | -0.46% |
| Q3 25 BEAT | $1.72 | $1.86 | +8.00% | $22.09B | +4.28% |
| Q2 25 BEAT | $1.63 | $1.96 | +20.47% | $21.67B | +4.04% |
| Q1 25 BEAT | $1.85 | $1.96 | +5.69% | $21.60B | +1.45% |