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Barclays Will Round Out Big Bank Earnings This Week

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Barclays Will Round Out Big Bank Earnings This Week

Barclays PLC (ADR) (NYSE: BCS) is among the few remaining large global banks to report its quarterly earnings. The London-based company is scheduled to report its third quarter results at around 2 a.m. EST on Thursday.

For the most part, global banks have reported strong earnings. Here is a look at how some of Barclays' peers performed in their earnings report.

Bank of America Corp (NYSE: BAC) smashed estimates when its earnings per share came in nearly 25 percent higher than expected while its revenue grew nearly 3 percent.

Related Link: How Did The Big 4 Do In Q3?

JPMorgan Chase & Co. (NYSE: JPM) beat its earnings per share estimate by more than 13 percent, and Citigroup Inc (NYSE: C) exceeded its expectations by nearly 14 percent even though revenue fell 4.81 percent. Finally, Wells Fargo & Co (NYSE: WFC)'s earnings exceeded expectations by around 2 percent.

U.K. Business, Barclays Card In Focus

Christopher Wheeler, a bank analyst at Atlantic Equities, was a guest on Bloomberg TV to discuss European banks.

According to Wheeler, Barclays is in a solid position, at least compared to its European peer Deutsche Bank AG (USA) (NYSE: DB). Specifically, Barclays boasts two resilient business segments, the first is its U.K. retail segment that is a 20 percent ROE business and its global card business, which also offers a very high return.

When Barclays reports its earnings on Thursday, the company should be a beneficiary of Deutsche Bank's lost business given its bigger presence in the United States.

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