Citigroup (NYSE:C) shares jumped Wednesday after fourth-quarter earnings beat estimates on the top and bottom lines, reflecting broad strength across the bank.
Shares of the company rose $5.16, or just over 7% in midday trading to $78.66.
Here is how the company did relative to LSEG analyst consensus estimates:
Earnings: $1.34 a share vs $1.22 expected Revenue: $19.58 billion vs $19.49 billion expected
Citi posted net income of $2.86 billion, an improvement from a net loss of $1.84 billion a year ago, when its results were hurt by a number of charges Citi booked in the final period of 2023. Revenue was up 12% year over year.
The bank did say it expected its return on tangible common equity to be between 10% and 11% in 2026 as it continues to make investments and reshape its business. That range is below the bank’s previously stated medium-term goal of 11% to 12%.
