Citigroup (C) Tops Q4 EPS by 6c

Citigroup (NYSE: C) reported Q4 EPS of $1.90, $0.06 better than the analyst estimate of $1.84. Revenue for the quarter came in at $18.38 billion versus the consensus estimate of $17.89 billion.

• Revenues increased 7% from the prior-year period, with strong results across both the Institutional Clients Group (ICG) and Global Consumer Banking (GCB). Net income increased 15% from the prior-year period, driven by the higher revenues and a lower effective tax rate, partially offset by higher expenses and cost of credit. Earnings per share of $2.15 increased 31% from the prior-year period, primarily driven by a 10% reduction in average diluted shares outstanding and the growth in net income. These results include a net benefit of approximately $0.25 per share in the current quarter related to discrete tax items, recorded in Corporate / Other6.

For earnings history and earnings-related data on Citigroup (C) click here.

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