Citigroup Inc ( (C) ) has released its Q4 earnings. Here is a breakdown of the information Citigroup Inc presented to its investors.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Citigroup Inc., a leading global financial institution, offers a comprehensive array of financial products and services to consumers, corporations, governments, and institutions worldwide. The company’s operations span over 180 countries, making it a significant player in the banking and financial services industry.
In its latest earnings report, Citigroup Inc. announced a robust financial performance for the year 2024, characterized by a significant increase in net income and revenues. The company reported a net income increase of nearly 40% to $12.7 billion, surpassing its full-year revenue target with record performances in its Services, Wealth, and U.S. Personal Banking segments. This financial success was accompanied by a strategic reorganization and a new stock repurchase program authorized by the Board.
Key financial metrics highlighted in the report include a 12% increase in fourth-quarter revenues to $19.6 billion and a net income of $2.9 billion, a substantial turnaround from a net loss in the previous year. The company’s operating expenses decreased by 18%, reflecting cost-saving measures from organizational simplification. Citigroup’s efficiency was further underscored by improvements in its efficiency ratio and a total capital return of nearly $7 billion to shareholders through dividends and share repurchases.
Citigroup’s strategic focus on enhancing shareholder value is evident in its authorization of a $20 billion common stock repurchase program, set to commence in early 2025. The company also reported increased activity in its Markets and Investment Banking sectors, with notable growth in Fixed Income and Equity revenues.
Looking ahead, Citigroup’s CEO, Jane Fraser, emphasized the momentum carried into 2025, with the company setting its sights on improving returns and capitalizing on strategic investments. Despite adjusting its 2026 Return on Tangible Common Equity (RoTCE) expectations to facilitate further investments, Citigroup remains committed to delivering enhanced shareholder value and realizing its full potential.
