UniCredit First Quarter 2024 Earnings: Beats Expectations

UniCredit (BIT:UCG) First Quarter 2024 Results

Key Financial Results

• Revenue: €6.27b (up 7.7% from 1Q 2023).
• Net income: €2.56b (up 24% from 1Q 2023).
• Profit margin: 41% (up from 36% in 1Q 2023). The increase in margin was primarily driven by higher revenue.
• EPS: €1.49 (up from €1.06 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

UniCredit Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 6.7%. Earnings per share (EPS) also surpassed analyst estimates by 13%.

Looking ahead, revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Banks industry in Italy are expected to grow by 1.4%.

Performance of the Italian Banks industry.

The company's shares are up 4.4% from a week ago.

Risk Analysis

You should learn about the 2 warning signs we've spotted with UniCredit (including 1 which makes us a bit uncomfortable).

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