$17 billion in quarterly revenue for Citi

Citi Banking Group announced its fourth-quarter earnings, with earnings per share of $1.46, compared to expectations of $1.38 per share. Revenue was $17 billion, higher than expectations of $16.75 billion, according to Refinitiv.
The group’s net income decreased by 26% to $3.2 billion, and as a result, the company’s shares fell by 2.2%.
Citigroup reported an 18% year-over-year increase in operating expenses to $13.5 billion during the quarter.
Citi shares fell 2% in the past year, while the KBW Bank index jumped 37%, and other banks’ shares on the index rose thanks to strong capital markets returns and expectations of higher interest rates. (agencies)

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