S&P 500
7,415.60
-1.06%
Dow Jones
51,913.60
+0.03%
Nasdaq 100
29,620.40
-2.68%
Russell 2000
2,991.30
-0.48%
FTSE 100
10,480.20
+0.28%
Nikkei 225
69,331.70
-5.19%
Stock Market Live June 23, 2026: S&P 500 (SPY) Futures Under Significant Pressure

Banking, finance, and taxes

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

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
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

Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

The $24,500 Trap: Why Most Americans Contribute Just $4,945 to Their 401(k)
David Beren |

The $24,500 Trap: Why Most Americans Contribute Just $4,945 to Their 401(k)
Some People Retire To Alaska. But Could You Afford It?
Drew Wood |

Some People Retire To Alaska. But Could You Afford It?

Continue Reading

Jon C. Ogg |

Bank Earnings To Be Clouded By Huge Discounts To Book Value (JPM, WFC, BAC, C, GS)

This Friday is going to mark a key earnings day when we get earnings from J.P. Morgan Chase & Co.…

Jon C. Ogg |

BofA Earnings Masked in Items, Huge Discount to Book Value (BAC, C, FAS)

Bank of America Corporation (NYSE: BAC) has reported its earnings and the headline numbers may look like a disappointment at…

Jon C. Ogg |

Citi Earnings Highlights Massive Discount to Book Value (C)

Citigroup, Inc. (NYSE: C) has reported that the bank made a profit of $2.93 billion in the first quarter.  Outside…

Jon C. Ogg |

Citi Mixes Earnings Metrics, Trading Under Book Value (C)

Citigroup Inc. (NYSE: C) is continuing to show some improvements from its near-implosion.  The money center bank reported earnings were…

Chris Lange |

Citigroup Earnings Dominated by Deep Discount to Book Value

Citigroup released a better-than-expected second-quarter earnings report Thursday before the markets opened.

Chris Lange |

How the Major Banks Fared This Earnings Season

24/7 Wall St. has been tracking the major banks over the course of this week to kick off corporate earnings…

Jon C. Ogg |

Goldman Beats Earnings, Raises Dividend

GS.COMThe Goldman Sachs Group Inc. (NYSE: GS) is out with earnings that look significantly better than estimates on the headlines.…

Banks Likely To Raise Dividends After Stress Tests
Jon C. Ogg |

Banks Likely To Raise Dividends After Stress Tests

[cnxvideo id=”655420″ placement=”ros”]The Federal Reserve has finally released the results of the 2016 stress tests. If there is one thing…

Chris Lange |

Legal Charges an Even Larger Factor in Citi Earnings

Citigroup reported its fourth-quarter results Thursday before the market open.

Top Gaining Stocks

Axon Enterprise
AXON • Vol: 384,076
Conagra Brands
CAG • Vol: 5,221,363
Charter Communications
CHTR • Vol: 948,218
IBM
IBM • Vol: 8,350,173
Cencora
COR • Vol: 558,999

Top Losing Stocks

Micron Technology
MU • Vol: 29,399,563
Corning
GLW • Vol: 7,857,376
ON Semiconductor
ON • Vol: 4,057,219
KLA
KLAC • Vol: 4,739,202
Lam Research
LRCX • Vol: 5,299,970