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
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%
