This article was originally published on ETFTrends.com.
Second-quarter earnings arrived for big banks in earnest last Friday amid a spate of reports from the financial services sector.
Forecasts for Citigroup earnings were slated at $1.56 per share, and the bank surpassed that, posting a $1.63 EPS figure. In addition, Citigroup netted $4.49 billion in income, besting last year’s second quarter results of $3.9 billion in net income.
Citigroup disappointed investors by missing revenue estimates. California-based Wells Fargo disappointed in its own right, reporting earnings per share ended up at $1.08, falling short of estimates of $1.12 for the quarter.
The potential earnings-driven challenges and opportunities do not end there for the financial services sector. Next, five of the top 10 components in the Russell 1000 Financial Services Index, meaning the following ETFs will be in next week's earnings spotlight.
- Financial Select Sector SPDR (XLF)
- iShares US Financial Services ETF (IYG)
- Invesco KBW Bank ETF (KBWB)
- Vanguard Financials ETF (VFH)
- SPDR S&P Regional Banking ETF (KRE)
- iShares Evolved US Financials ETF (IEFN)
- Fidelity MSCI Financials Index ETF (FNCL)
- iShares U.S. Financials ETF (IYF)
For more trends in the financial sector, click here.
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