Citigroup tops expectations for profit and revenue on strong Wall Street results

Citigroup is scheduled to report second-quarter earnings before the opening bell Friday.

Here’s what Wall Street expects:

• Earnings: $1.39 a share, according to LSEG
• Revenue: $20.1 billion, according to LSEG
• Provision for credit losses: $2.61 billion, according to StreetAccount
• Trading Revenue: Fixed Income of $3.57 billion, Equities of $1.20 billion, according to StreetAccount

Citigroup was just this week rebuked for failing to address its regulatory shortfalls, so analysts will be keen to ask CEO Jane Fraser about her long-running efforts to address the issue.

Last year, Fraser announced plans to simplify the management structure and reduce costs at the third-biggest U.S. bank by assets. But earnings will take a backseat if the bank cannot appease regulators’ concerns about its data and risk management.  

JPMorgan Chase reported results earlier Friday, while Goldman Sachs, Bank of America and Morgan Stanley report next week.

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