A slew of major banks will report their earnings results for the first quarter of 2024 by the end of this week and over the next. JPMorgan Chase & Co. (NYSE: JPM), Wells Fargo & Company (NYSE: WFC), and Citigroup Inc. (NYSE: C) are scheduled to report their financial results on Friday, April 12, before markets open.
Goldman Sachs (NYSE: GS) will report its results on Monday, April 15 while Morgan Stanley (NYSE: MS) and Bank of America (NYSE: BAC) will report their results on Tuesday, April 16. Here’s a look at the estimates for these banks for the first quarter:
JPMorgan
Analysts are projecting earnings of $3.84 per share on revenue of $38.7 billion for JPMorgan in Q1 2024. This compares to earnings of $4.10 per share on revenue of $38.3 billion in the same period last year. JPM reported earnings of $3.04 per share on revenue of $38.5 billion for Q4 2023.
Wells Fargo
Wells Fargo is estimated to report earnings of $1.08 per share on revenue of $20.2 billion in Q1 2024. This compares to earnings of $1.23 per share on revenue of $20.7 billion reported in Q1 2023. In Q4 2023, the company delivered earnings of $0.86 per share on revenue of $20.5 billion.
Citigroup
Citigroup is projected to report earnings of $1.11 per share on revenue of $18.8 billion for Q1 2024. This compares to earnings of $2.19 per share on revenue of $21.4 billion reported in Q1 2023. In Q4 2023, Citigroup reported a loss of $1.16 per share on revenues of $17.4 billion.
Goldman Sachs
Goldman Sachs is expected to report earnings of $8.71 per share on revenue of $12.8 billion in Q1 2024. This compares to earnings of $8.79 per share on revenue of $12.2 billion reported in the prior-year period. In Q4 2023, GS reported earnings of $5.48 per share on revenue of $11.3 billion.
Morgan Stanley
Morgan Stanley is estimated to report earnings of $1.66 per share on revenue of $14.4 billion in Q1 2024. This compares to earnings of $1.70 per share on revenue of $14.5 billion reported in Q1 2023. In Q4 2023, MS reported earnings of $0.85 per share on revenues of $12.9 billion.
Bank of America
Bank of America is projected to report earnings of $0.71 per share on revenue of $23.4 billion in Q1 2024. This compares to earnings of $0.94 per share on revenue of $26.3 billion reported in the year-ago quarter. In the fourth quarter of 2023, the company reported earnings of $0.35 per share on revenue of $22 billion.