Citigroup tops 4Q profit forecasts

MarketsAssociated Press

Citigroup Inc. (C) on Wednesday reported fourth-quarter profit of $3.57 billion.

Continue Reading Below

The bank, based in New York, said it had earnings of $1.14 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.

The U.S. bank posted revenue of $20.29 billion in the period. Its adjusted revenue was $17.01 billion, which missed Street forecasts. Three analysts surveyed by Zacks expected $17.05 billion.

Citigroup shares have decreased almost 2 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 1 percent. The stock has increased 29 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on C at https://www.zacks.com/ap/C

_____

Keywords: Citigroup, Earnings Report, Priority Earnings