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Citigroup posts higher net income YOY in Q4'19; beats analyst estimates

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Citigroup posts higher net income YOY in Q4'19; beats analyst estimates

Citigroup Inc. reported net income of $4.98 billion, or $2.15 per share, in the fourth quarter of 2019, up from $4.31 billion, or $1.64 per share, in the same quarter in 2018.

The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was $1.81.

Total revenues for the fourth quarter of 2019 stood at $18.38 billion, up 7% from $17.12 billion a year ago.

Fourth-quarter 2019 net income for global consumer banking totaled $1.58 billion, compared with $1.41 billion a year ago. The institutional clients group recorded fourth-quarter 2019 net income of $2.87 billion, compared with $2.61 billion in the same period in 2018. Corporate/other net income for the fourth quarter of 2019 was $537 million, up from $296 million in the year-ago period.

End-of-period loans for the fourth quarter of 2019 stood at $699 billion, up from end-of-period loans in the prior year of $684 billion. End-of-period deposits were $1.071 trillion, up from $1.013 trillion a year ago.

For the full year 2019, net income was $19.40 billion, up from $18.05 billion for full year 2018.