NEW YORK (AP) — Citigroup Inc. (C) on Tuesday reported fourth-quarter profit of $4.98 billion.
The New York-based bank said it had earnings of $2.15 per share. Earnings, adjusted for pretax gains, came to $1.90 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.82 per share.
The U.S. bank posted revenue of $24.93 billion in the period. Its revenue net of interest expense was $18.38 billion, also beating Street forecasts. Three analysts surveyed by Zacks expected $17.7 billion.
Citigroup shares have climbed 1% since the beginning of the year, while the Standard & Poor's 500 index has risen 31%. The stock has climbed 42% in the last 12 months.