The earnings call demonstrated positive momentum with strong revenue growth across key segments, especially in services and wealth management. However, challenges remain in fixed income and retail services, and there are ongoing issues with data and regulatory reporting that need addressing.

Company Guidance

During Citi's third quarter 2024 earnings call, the company provided robust guidance, reporting a net income of $3.2 billion and earnings per share of $1.51, with a return on tangible common equity (RoTCE) of 7%. Revenue growth was 3% excluding divestitures, supported by fee-based revenues' double-digit increase, particularly in services and banking, which delivered a record quarter with revenues up by 8%. Equities revenues rose by 32%, while investment banking fees surged 44%, attributed to investment-grade debt issuance. Wealth management showed a 9% revenue increase, driven by a 24% rise in client investment assets. U.S. Personal Banking revenues grew by 3%, with branded cards revenues increasing by 8%. Citi maintained its capital strength, ending the quarter with a Common Equity Tier 1 (CET1) ratio of 13.7% and returning $2.1 billion in capital, including $1 billion in share repurchases. Despite challenges, Citi affirmed its commitment to achieving its revenue and expense targets for the year and progressing towards its medium-term return goals.

Positive Revenue Growth

Overall, revenues grew by 3% excluding divestitures, with each of the core businesses delivering growth and positive operating leverage.

Services Segment Record Performance

Services delivered a record quarter with revenues up by 8%, driven by significant fee growth and loan and deposit volume growth.

Wealth Management Progress

Wealth revenues were up 9% with client investment assets growing by 24%. Adviser productivity increased over 50% in Citigold North America.

Investment Banking Fees Surge

Investment banking fees increased by 44%, driven by investment-grade debt issuance and strong advisory performance.

Strong Capital Position

The CET1 capital ratio remained robust at 13.7%, with $2.1 billion returned in capital, including $1 billion in share repurchases.

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Citigroup (C) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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C Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 15, 2025	2024 (Q4)	1.23 / -	-1.16	―	―	―
Oct 15, 2024	2024 (Q3)	1.31 / 1.51	1.63	-7.36% (-0.12)
Jul 12, 2024	2024 (Q2)	1.40 / 1.52	1.33	14.29% (+0.19)
Apr 12, 2024	2024 (Q1)	1.18 / 1.58	2.19	-27.85% (-0.61)
Jan 12, 2024	2023 (Q4)	0.11 / -1.16	1.16	-200.00% (-2.32)
Oct 13, 2023	2023 (Q3)	1.23 / 1.63	1.63	0.00% (0.00)
Jul 14, 2023	2023 (Q2)	1.30 / 1.33	2.19	-39.27% (-0.86)
Apr 14, 2023	2023 (Q1)	1.65 / 2.19	2.02	8.42% (+0.17)
Jan 13, 2023	2022 (Q4)	1.14 / 1.16	1.46	-20.55% (-0.30)
Oct 14, 2022	2022 (Q3)	1.41 / 1.63	2.15	-24.19% (-0.52)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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C Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 15, 2024	$65.43	$62.09	-5.10%
Jul 12, 2024	$64.51	$63.34	-1.81%
Apr 12, 2024	$59.09	$58.09	-1.69%
Jan 12, 2024	$50.21	$50.73	+1.04%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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