1/14, 2:06 PM (Source: TeleTrader)
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Citigroup reports revenue at $17.1B in Q4, down 2% YoY

American investment banking giant Citigroup Inc. reported on Monday its total revenue for the last quarter of the fiscal year 2018 stood at $17.1 billion, down 2% compared to the same period a year ago. Meanwhile, the revenue for the whole of 2018 was $72.9 billion, improving slightly by 1% compared to the year before that. The company's diluted earnings per share (EPS) for the fourth quarter of last year amounted to $1.65, was up 122% compared to the last three months of 2017 while the full-year diluted EPS stood at $6.69, jumping 328%.

Citigroup's net income was $4.3 billion in the fourth quarter of this year, increasing 123% compared to the same quarter a year ago. In the meantime, net income for the whole of 2018 was $18 billion, skyrocketing 365% compared to the whole of 2017.

“We made solid progress throughout 2018 towards our longer-term financial targets, ending the year with an RoTCE of 10.9% and an efficiency ratio of 57%. Our institutional and consumer franchises each grew revenue on a full year basis and we continued to invest in our people and technology in order to better serve our clients," said the company's CEO Michael Corbat.

Following the release of corporate results, Citigroup shares were down 1.22% during the premarket trade on Wall Street.

Breaking the News / VK