Citigroup: Fourth Quarter Earnings Overview

Citigroup Announces Fourth-Quarter Earnings

Citigroup Inc., headquartered in New York, revealed on Wednesday that its net income for the fourth quarter reached $2.47 billion.

The financial institution reported earnings of $1.19 per share. After adjusting for one-time expenses and discontinued operations, earnings stood at $1.81 per share.

These adjusted results surpassed analysts’ expectations, as the consensus among eight Zacks Investment Research analysts had predicted earnings of $1.65 per share.

During the quarter, Citigroup generated $40.85 billion in total revenue. However, revenue excluding interest expenses was $19.87 billion, which did not meet the $20.94 billion anticipated by seven Zacks analysts.

Since the start of the year, Citigroup’s stock price has seen a modest decline, in contrast to the S&P 500’s approximate 2% gain. Over the past year, however, Citigroup shares have surged by 60%.