On Monday Citigroup, Goldman Sachs, and Charles Schwab will announce their Q1 2019 earnings. These will be followed by Bank of America's Q1 earnings announcement on Tuesday, April 16. These earnings announcements follow the ones made by JPMorgan Chase and Wells Fargo on Friday.
In Q4, Citigroup reported a net income of $4.3 billion on revenues of $17.1 billion. This compared to a net loss of $18.9 billion on revenues of $17.5 billion in Q4 2017. Excluding mortgage, its Retail Banking revenues increased 5%, driven by continued growth in deposit spreads, partially offset by lower deposit volumes.
Goldman Sachs had reported net revenues of $8.08 billion and net earnings were $2.54 billion for Q4. The bank had said that its Net revenues in interest rate products and mortgages were slightly lower, while net revenues in credit products were essentially unchanged during the year, while they remained unchanged during Q4.
Charles Schwab had announced that its net income for Q4 2018 was $935 million, up 57% from $597 million for the Q4 2017. While Bank of America does not announce its mortgage lending revenue separately, it reported quarterly earnings of $7.3 billion in Q4.
Here's what else is in store in the week ahead:
- NAHB Housing Market Index, Tuesday, 10 a.m. EST
- MBA Mortgage Apps, Wednesday, 7 a.m. EST
- Fed Beige Book, Wednesday, 2 p.m. EST
- Freddie Mac Primary Mortgage Market Survey, Thursday 10 a.m. EST
- CoreLogic LoanSafe Training Webinars, Thursday, 2 p.m. EST
- Census Bureau Housing Starts report, Friday, 8:30 a.m. EST