Citigroup Inc (NYSE:C) earnings report for the fourth quarter of 2016 has been released.
Here are a few things to know about Citigroup Inc’s earnings report for the fourth quarter of the year.
- Earnings per share for the quarter were $1.14.
- The company reported earnings per share of $1.02 during the same time last year.
- Wall Street was expecting the company to report earnings per share of $1.12 for the quarter.
- Revenue reported by C for the fourth quarter of 2016 was $17.0 billion.
- The financial services company reported revenue of $18.5 billion for the fourth quarter of 2015.
- Analysts were expecting the company to report revenue of $17.3 billion in the fourth quarter of the year.
- Net income reported by C during the fourth quarter of 2016 was $3.6 billion.
- The company’s net income from the same period in the year prior was $3.3 billion.
- Operating expenses for the quarter were down 9% to $10.1 billion.
- Citigroup Inc’s loans for the fourth quarter of 2016 were up 1% to $624 billion from the same time last year.
- The company notes that this is the last quarter that it will report Citi Holdings results separately.
- This is due to Citi Holdings being profitable for the last 10 quarters and only making up 3% of the company’s balance sheet.
“Our core businesses are beginning to produce the returns our investors expect and deserve,” said Citigroup Inc CEO Michael Corbat. “In 2016, we returned nearly $11 billion in capital to our shareholders.”
You can follow this link to see Citigroup Inc’s full earnings report for the fourth quarter of 2016.
C stock was down 1% as of Wedensday morning.