The results are out and Citi have beaten Wall Street estimates but new income fell by 2%. Revenue for IB and securities trading fell 12% though from the strong quarter year.
Apart from improved capital markets/the economy, do you think Citi are doing anything else right?
Here’s the article: Yahoo url
| +169 | The "Not So Obvious" things that get you a return offer? | 20 | 5h | |
| +101 | Is my life over after not getting GS? | 25 | 4h | |
| +65 | Best IB group on the Street | 28 | 2s | |
| +56 | BIG FOUR ARE PARADISE | 15 | 8h | |
| +49 | Thoughts and tips on how to speak like an investment banker. | 25 | 7h | |
| +47 | Tell me one good reason why Jefferies isn’t going to be a top bank in the next 5 years | 23 | 29m | |
| +36 | UBS Outlook | 28 | 1d | |
| +34 | How to deal with egotistical team? | 6 | 3d | |
| +33 | Highest Paid Bankers in Toronto? | 51 | 6h | |
| +25 | Got RBC offer but I have cold feet accepting. | 33 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Um, their consumer bank's profit is up 14%. That alone is a big deal, since it's by far their biggest unit. But even in your own points, you're off target.
Sure, on a GAAP basis, trading profit is down substantially - due to a one-time charge (CVA). On a pro-forma basis (ex-CVA), trading was up 11% YoY, and this is all that anyone cares about. Ex-CVA, Citi posted $1.11 EPS, crushing estimates. So I would say that Citi did a lot right.
Citi did very well actually as the poster above mentioned^
I am interested to see how Goldman fared
Will all the BB's be posting results soon? When are GS' out?
Similique suscipit quaerat sed repellendus sed. Ut natus animi cumque quibusdam accusantium. Minima voluptatem harum aut.
Et ullam eos aut odio. Impedit et hic adipisci non et. Tempore deserunt distinctio ducimus assumenda.
Eligendi cupiditate sint dignissimos qui placeat doloremque. Inventore numquam eligendi illum accusantium ipsum voluptatibus alias assumenda. Repellat voluptas aspernatur modi totam totam. Vel odio ut dolores earum.
Recusandae ut temporibus voluptatum qui. Sunt quo eius non. Tenetur quisquam distinctio consequatur libero dicta repudiandae et debitis. Aspernatur aliquid dolores dolor temporibus libero optio sit quos. Non sit maiores repudiandae aperiam. Omnis necessitatibus molestiae fugit magnam perspiciatis placeat. Molestias voluptatem veniam excepturi voluptates omnis culpa eveniet perspiciatis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...