Citigroup (NYSE:C) earnings for the financial company’s fourth quarter of 2019 have C stock up on Tuesday. This comes after reporting earnings per share of $2.15 on revenue of $18.38 billion. These are both better than Wall Street’s estimates of $1.84 per share and $17.89 billion.
Here’s a more in-depth look at the most recent Citigroup earnings report.
- Per-share earnings are up 14.29% from $1.61 in the same quarter of 2019.
- Revenue is 7.36% higher than the $17.12 billion in the fourth quarter of the previous year.
- The Citigroup earnings report sees net income for the quarter coming in at $4.98 billion.
- That’s a 15.55% increase over the company’s net income of $4.31 from the same period of the year prior.
Michael Corbat, CEO of Citigroup, says this about the most recent C stock earnings report.
“Our earnings of $5 billion for the fourth quarter marked a strong finish to 2019. Our full year Return on Tangible Common Equity of over 12% exceeded our target. Due to good client engagement, we drove balanced growth across our products and geographies, closing the year with 16 consecutive quarters of loan and deposit growth.”
The current Citigroup earnings report doesn’t include an outlook for 2020. Even without this, we know what Wall Street is expecting from C during the year. That includes earnings per share of $8.38 on revenue of $75.04 billion.
C stock was up 1.74% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.