Citigroup Posts Higher Profit
January 14 2019 - 08:31AM
Dow Jones News
By Telis Demos
Citigroup Inc. said its fourth-quarter profit surged from a year
ago, when it took a large write-down related to changes in the U.S.
tax code.
Net income was $4.3 billion, versus a loss of $18.9 billion a
year ago, and earnings per share were $1.64. Analysts polled by
Refinitiv expected $1.55 a share.
The bank overcame a difficult quarter for the trading business,
due to a volatile December marked by many clients stepping away
from the market.
Overall revenue at the bank was $17.1 billion, down 2% from a
year ago.
Still, profit grew thanks to a lower overall tax rate and a 4%
drop in expenses from a year earlier, to $9.9 billion.
Write to Telis Demos at telis.demos@wsj.com
(END) Dow Jones Newswires
January 14, 2019 08:16 ET (13:16 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Citigroup (NYSE:C)
Historical Stock Chart
From Feb 2024 to Mar 2024
Citigroup (NYSE:C)
Historical Stock Chart
From Mar 2023 to Mar 2024