Bank earnings extravaganza: Unveiling Q4 2023 results of major banks

A number of major banks, including JPMorgan Chase, Citigroup, Wells Fargo, Bank of America, Goldman Sachs, and Morgan Stanley, are set to report their earnings results for the fourth quarter of 2023. The article highlights the estimates for these banks and compares them to the previous year’s results. Analysts are projecting earnings per share and revenue figures for each bank, and the article provides infographics to summarize the data.

The outlook for banking companies continues to be dampened by factors such as weak economic growth and geopolitical tensions. However, high interest rates are expected to benefit these firms. The article emphasizes the importance of these interest rates and notes that they will continue to be beneficial for the banks.

The article provides estimates for each bank’s earnings and revenue figures for the fourth quarter of 2023:

• JPMorgan: Analysts are projecting earnings of $3.40 per share on revenue of $39.8 billion, compared to $3.57 per share on revenue of $34.5 billion in the previous year.
• Citigroup: Estimated earnings are $0.88 per share on revenue of $18.8 billion, compared to $1.16 per share on revenue of $18 billion in the prior-year quarter.
• Wells Fargo: Analysts predict earnings of $1.20 per share on revenues of $20.3 billion, compared to $0.67 per share on revenue of $19.6 billion in the same period the previous year.
• Bank of America: The consensus estimate for EPS is $0.64, compared to EPS of $0.85 in the year-ago quarter. Revenues are projected to be $24 billion, compared to $24.5 billion reported last year.
• Goldman Sachs: Analysts project earnings of $3.33 per share on revenue of $10.8 billion, compared to $3.32 per share on revenue of $10.59 billion in the previous year.
• Morgan Stanley: Estimated earnings are $1.04 per share on revenue of $12.8 billion, compared to EPS of $1.26 on revenue of $12.75 billion in the year-ago quarter.

The article concludes by suggesting that investors should pay attention to these earnings reports and the impact they may have on the banks’ stocks. It also highlights the importance of interest rates and geopolitical tensions as factors that could affect the banking industry in the future.