Citigroup

Citigroup © Q4 Earnings Beat Estimates on Top-Line Strength

Citigroup C delivered a positive earnings surprise of 4.4% in fourth-quarter 2019, backed by revenue strength. Adjusted earnings per share of $1.90 for the quarter handily outpaced the Zacks Consensus Estimate of $1.82.

Including one-time gain, net income was $5 billion or $2.15 per share compared with the $4.3 billion or $1.64 per share recorded in the prior-year quarter.

Citigroup recorded higher revenues riding on consumer banking, investment banking and market revenues during the reported quarter. Though equity market revenues disappointed on a more challenging environment in derivatives, fixed income revenues were on an upswing. Moreover, investment banking revenues increased on strong underwriting business, partly muted by lower advisory business. Further, loans escalated.

However, rise in expenses was on the downside. Moreover, cost of credit soared.

For full-year 2019, net income came in at $19.4 billion compared with the $18 billion recorded in 2018.


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https://finance.yahoo.com/news/citigroup...03422.html