Citigroup Inc (NSE: C) is scheduled to release its earnings result later this morning, although predictions from analysts are all over the board.
On average, analysts are predicting that Citigroup will have total sales of $20.77 billion and an earnings per share of $0.00 (break-even), which would represent a 16.2% year-over-year decline.
The news comes as the U.S. Treasury Department is in the process of exiting its 27% stake in the company, which equates to about 7.7 billion shares that the government acquired after bailing out Citigroup during the worst credit crisis in a generation.
Citigroup’s results come on the heels of JP Morgan Chase’s (NYSE: JPM) earnings results last Wednesday, which set a high bar for the financials industry after beating expectations. Bank of America Corp (NYSE: BAC) also bet street expectations on Friday.
Citigroup has recently tried to raise significant amounts of capital by offering an IPO of its Primerica life insurance business, which raised $320 million and sold a hedge fund which controlled about $4.2 billion in assets.
