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Citi, Goldman, BofA to Announce Earnings this Week
October 15, 2012
[ by Melanie Gretchen ]
Can Citigroup, Goldman Sachs, and Bank of America compete with JPMorgan Chase and Wells Fargo?
This week will shed some light on the performance of Citi, Goldman and BofA when they release their Q3 results. Friday, JPMorgan and Wells Fargo reported a 4.5% increase in the third quarter, according to analysts' estimates.
When we'll know:
- Citigroup: Monday
- Goldman Sachs: Tuesday
- Bank of America: Wednesday
What we can expect:
- A decline of 2.5% across the S&P 500 – the first drop since Q3 of 2009
- At Citi: (i) earnings per share (EPS) up 22% at 96¢; (ii) reduced deposits by 10.2% to $18.71 billion
- At Goldman: (i) an EPS of $2.12, from a per-share loss of 84¢ a year ago; (ii) doubled revenue to $7.3 billion
- At BofA: (i) an EPS loss of 6¢ per share, from earnings of 56¢ a year ago; (ii) revenue down 22.9% to $21.95 billion
Next to report: Morgan Stanley and American Express. How will they fare?
For further details, go to [Investors, 10/13/12].
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