Citigroup Posts a Mixed Q4 | The Motley Fool
Most of the company's key metrics declined in the quarter.
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Most of the company's key metrics declined in the quarter.
Weeks away from succeeding Michael Corbat, Jane Fraser said she’d consider streamlining some units or divesting others as part of her effort to kick-start return on equity.
Citigroup Inc reported fourth-quarter profit that beat market expectations on Friday, but that failed to impress Wall Street as higher costs and a fall in revenue across its consumer business weighed on the results.
Citigroup released some loan-loss reserves, lifting fourth-quarter earnings above expectations. The banking giant said stock repurchases could resume in the current quarter.
Citigroup reported a 7% decline in fourth-quarter profit but beat Wall Street expectations, as an improving economic outlook allowed it to release cash it had previously set aside for bad loans.