Earnings Performance - JPMorgan Chase & Co (JPM) reported strong fourth-quarter profit and revenue, with its stock up 2.2% to $252.95, marking a 50.3% year-over-year increase and nearing its record high of $254.31 [1][2] - Wells Fargo & Co (WFC) saw a 7.4% increase in stock price to $76.44, its largest single-day gain since Nov 6, and a 62.7% rise over the past 12 months [1][3] - Citigroup Inc (C) added 7.5% to trade at $78.96, achieving a 35.7% increase over the last nine months and reaching its highest level since June 2021 [1][3] Stock Performance and Trends - JPMorgan Chase & Co (JPM) is on track for its third consecutive daily win, bouncing off its 60-day moving average [2] - Wells Fargo & Co (WFC) is trading close to its all-time peak of $78.13, aiming for its third consecutive gain [3] - Citigroup Inc (C) is eyeing its best day since Nov 6, reflecting strong momentum in its stock performance [3] Options Activity - JPMorgan Chase & Co (JPM), Wells Fargo & Co (WFC), and Citigroup Inc (C) are among the top 10 stocks with the most unusual options activity, attracting four times the typical call volume [4] - The most active options contracts are the January 250 call for JPM, the 80 call for C, and the April 82.50 call for WFC, indicating significant investor interest in these stocks [4]

Financial Data and Key Metrics - The company held its Fourth Quarter 2024 Earnings Call, hosted by Jenn Landis, Head of Investor Relations, with CEO Jane Fraser and CFO Mark Mason presenting [1][2][3] - The presentation contains forward-looking statements based on management's current expectations, subject to uncertainty and changes in circumstances [4] Business Line Data and Key Metrics - No specific financial data or key metrics for individual business lines were provided in the content Market Data and Key Metrics - No specific market data or key metrics were provided in the content Company Strategy and Industry Competition - CEO Jane Fraser started the presentation by discussing the macro backdrop and then walked through the company's full-year results, indicating a focus on broader economic conditions and overall performance [5] Management Commentary on Operating Environment and Future Outlook - No specific commentary on the operating environment or future outlook was provided in the content Other Important Information - The earnings call was recorded, and participants were instructed to hold questions until the formal remarks were completed [1] - The presentation is available for download on the company's website, citigroup.com [4] Q&A Session Summary - No Q&A session details were provided in the content

Citigroup exceeded expectations in Q4 2024, driven by strong business performance.Banking giant Citigroup (C 6.77%) reported fourth quarter and full-year earnings on Wednesday, Jan. 15, that topped analyst consensus estimates. Revenue of $19.6 billion came in just ahead of analyst forecasts for $19.51 billion. Earnings per share of $1.34 exceeded the expected $1.22 and was a big improvement over a $1.16 per share loss reported in Q4 2023. Overall, the quarter revealed a mix of strong revenue growth alongsid ...

Citigroup Inc.’s (C) fourth-quarter 2024  adjusted net income per share of $1.34 surpassed the Zacks Consensus Estimate of $1.25. The company had incurred a loss of $1.16 in the fourth quarter of 2023.For 2024, adjusted net income per share was $4.04 compared with $5.94 reported in 2023.Shares of the company gained almost 5.6% in pre-market trading on better-than-expected results, driven by solid investment banking (IB) business performance.Find the latest earnings estimates and surprises on the Zacks Earni ...

Financial Data and Key Metrics Changes - For Q4 2024, net income was $2,900,000,000 with an EPS of $1.34 and a ROTCE of 6.1% on revenues of $19,600,000,000, reflecting a 12% increase in total revenues driven by growth across all businesses [21][20] - Full year net income increased nearly 40% to $12,700,000,000, with revenues up 5% excluding divestitures [6][23] - The tangible book value per share grew by 4%, and the CET1 ratio ended at 13.6%, approximately 150 bps above the regulatory capital requirement [11][28] Business Line Data and Key Metrics Changes - Services revenue increased by 9% to $19,600,000,000, benefiting from fee growth and higher deposit volumes [23][28] - Markets revenue rose by 6% to $19,800,000, primarily driven by equity growth, which had its highest annual revenue in a decade [23][24] - Banking revenues surged by 32% to $6,200,000,000, largely due to a 42% increase in investment banking fees [24][33] - Wealth revenues increased by 7% to $7,500,000,000, driven by a 15% rise in non-interest revenue [24][36] - U.S. Personal Banking revenues grew by 6%, driven by card growth and lower partner payments [38] Market Data and Key Metrics Changes - The U.S. remains central to the macroeconomic picture, with growth driven by both high-end consumers and a strong corporate sector [5][4] - Emerging markets have reemerged as bright spots, benefiting the company due to its global network [6] Company Strategy and Development Direction - The company is focused on executing its strategy with a commitment to returning capital to shareholders, including a $20,000,000,000 share repurchase program [11][47] - A significant simplification of the organization has been undertaken to enhance decision-making and client partnership [12][13] - The company aims to improve its ROTCE to between 10% and 11% by 2026, viewing this as a waypoint rather than a destination [18][46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the macroeconomic environment, with expectations for continued revenue growth in 2025 [41][42] - The company anticipates a slight decrease in total expenses for 2025, with a focus on driving efficiencies while investing in transformation and technology [44][45] - Management acknowledged the need for ongoing investments in data and regulatory reporting to meet regulatory expectations [15][54] Other Important Information - The company has exited consumer businesses in nine countries and is on track to complete wind-downs in three others, including Banamex [12] - Investments in technology and transformation totaled $11,800,000,000, focusing on digital innovation and client experience [26][14] Q&A Session Summary Question: Regarding the reduction in the ROTCE target for 2026 - Management clarified that the reduction is linked to higher investments in transformation but emphasized that the strategy is working and they are generating more fee-based revenues [51][52] Question: On the buyback program and its timing - Management expressed confidence in the buyback program, indicating that it reflects the growing earnings power and the need to manage capital effectively [60][88] Question: Expectations for card net charge-offs - Management expects net credit losses to be at the high end of the previously provided range, with seasonal variations anticipated throughout the year [67][68] Question: Clarification on expense guidance and revenue growth - Management confirmed expectations for three consecutive years of lower expenses alongside higher revenues, indicating a focus on operational efficiency [73][74] Question: Competitive positioning in wealth management - Management highlighted the potential for growth in wealth management, emphasizing the global reach and client relationships that can be leveraged for investment opportunities [94][96]

The stock market was having a strong day on Wednesday, with the S&P 500 (^GSPC 1.34%) and Nasdaq Composite (^IXIC 1.80%) higher by 1.6% and 1.9% as of 10 a.m. ET. But the big bank stocks are leading the way, with several major U.S. financial institutions spiking higher. In fact, Wells Fargo (WFC 6.17%), Goldman Sachs (GS 4.95%), and Citigroup (C 6.49%) were all higher by 5% or more for the day.There are two main reasons why these bank stocks are soaring. Bank earnings are far better than expectedFirst, bank ...

Exhibit 99.2 CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT 4Q24 | Citigroup | Page | | --- | --- | | Financial Summary | 1 | | Consolidated Statement of Income | 2 | | Consolidated Balance Sheet | 3 | | Operating Segments, Reporting Units, and Components—Net Revenues | | | and Income | 4 | | Services | 5 | | Markets | 6 | | Banking | 7 | | Wealth | 8 | | U.S. Personal Banking (USPB) | 9 | | Metrics | 10 | | All Other | 11 | | Legacy Franchises | 12 | | Corporate/Other | 13 | | Reconciling Items—Divestiture- ...

Citigroup (C) came out with quarterly earnings of $1.34 per share, beating the Zacks Consensus Estimate of $1.25 per share. This compares to earnings of $0.84 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.20%. A quarter ago, it was expected that this U.S. bank would post earnings of $1.34 per share when it actually produced earnings of $1.51, delivering a surprise of 12.69%.Over the last four quarters, the company has surp ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Earnings Performance - Citigroup reported a net income of $2.86 billion for Q4, a significant improvement from a loss of $1.84 billion in the same quarter last year [1] - Diluted earnings per share (EPS) increased to $1.34, compared to a loss of $1.16 per share in the previous year, surpassing consensus estimates [1] Revenue and Costs - Revenue, net of interest expense, rose 12% year-over-year to $19.58 billion, exceeding estimates [3] - The cost of credit decreased by 27% to $2.59 billion, contributing to the boost in net income [3] Strategic Performance and Future Plans - CEO Jane Fraser stated that 2024 was a critical year, with results indicating that the company's strategy is delivering stronger performance [3] - The board of directors approved a $20 billion stock buyback program, set to begin this quarter [3] Market Reaction - Shares of Citigroup gained nearly 4% in pre-market trading following the earnings report [2]