Categories AlphaGraphs, Earnings, Finance
Earnings: Citigroup (C) reports net loss for Q4 2023; revenue drops
Banking behemoth Citigroup Inc. (NYSE: C) on Friday reported a net loss for the fourth quarter of 2023 compared to profit last year. Revenues declined 3% during the three-month period.
The company reported a net loss of $1.84 billion or $1.16 per share for the December quarter, compared to a profit of $2.5 billion or $1.16 per share in the corresponding period of last year.
The bottom line was negatively impacted by charges related to special items. Excluding the charges, fourth-quarter net income would have been $0.84 per share. Total revenues decreased 3% annually to $17.44 billion.
“While the fourth quarter was very disappointing due to the impact of notable items, we made substantial progress simplifying Citi and executing our strategy in 2023,” said Citi’s CEO Jane Fraser.
Prior Performance
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
BLK Q4 Preview: BlackRock appears poised for another earnings beat
BlackRock, Inc. (NYSE: BLK), the largest asset management company, is expected to publish its fourth-quarter 2025 results next week. The update is expected to shed light on how the firm’s
A look at Best Buy’s (BBY) progress on its growth strategy
Shares of Best Buy Co., Inc. (NYSE: BBY) fell over 3% on Wednesday. The stock has dropped 17% over the past 12 months. The consumer electronics retailer delivered sales and
Citigroup set to report Q4 2025 earnings. Here’s what to expect
Citigroup Inc. (NYSE: C) has undergone a sweeping transformation in recent years, emerging as a more streamlined and profitable financial institution. The bank's performance in recent quarters has underscored the
