Jim Cramer: Why Citi Is More of a Buyback Story

Credit: The Street
Published on April 12, 2019 - Duration: 00:36s

Jim Cramer: Why Citi Is More of a Buyback Story

After the earnings from JPMorgan and Wells Fargo early Friday morning, Jim Cramer's got some thoughts on Citigroup and Goldman Sachs , which both report earnings Monday morning.

Cramer said that, unlike JPMorgan, he expects Citigroup to have more of a "buyback story." Here's how JPMorgan did when it announced earnings Friday.

JPMorgan said first-quarter profit rose faster than expected, as the largest U.S. bank used a lower-than-expected tax rate, expense controls and growth in credit-card loans to overcome a slump in bond- and stock-trading, reported TheStreet's Bradley Keoun.

Net income rose by 5% from a year earlier to $9.18 billion, or $2.65 a share, New York-based JPMorgan said Friday in a statement.

Analysts surveyed by FactSet had estimated the figure at $2.35.

JPMorgan was the first big U.S. bank to post results for the quarter, a period in which the U.S. government shut down for 35 days, the longest period in American history, and concerns mounted among many economists that growth is slowing both in the U.S. and globally.

Related.

Jim Cramer: Here's My Earnings Cheat Sheet for the Bank Stocks

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