For the quarter ended December 2023, Citigroup (C) reported revenue of $17.44 billion, down 3.1% over the same period last year. EPS came in at $0.84, compared to $1.10 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $18.66 billion, representing a surprise of -6.55%. The company delivered an EPS surprise of +15.07%, with the consensus EPS estimate being $0.73.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

Citigroup will cut 20,000 jobs by the end of 2026 after enduring a steep loss in the last quarter as it presses ahead with a sweeping restructuring.While chief executive, Jane Fraser, hailed 2024 as a “turning point” for the American banking group, Mark Mason, its chief financial officer, acknowledged that job cuts are “tough on morale” as he outlined the planned reductions.Citi currently has 239,000 staff across the world. The lender plans to reduce this by 20,000 as part of a reorganisation, Mason said.Ex ...

Citigroup Inc (NYSE: C) just announced plans of lowering its global headcount by 10%. Its shares are paring back intraday gains at writing.How many employees will be laid off?Copy link to sectionThe investment bank will lay off about 20,000 of its employees over the “medium term” as part of a sweeping overhaul its chief executive Jane Fraser announced in September. Citi may choose to cut fewer than 20,000 jobs if it eventually decides to use internal resources instead of outsourcing tasks, its executives ad ...

CEO of Citigroup Jane Fraser testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on September 21, 2022 in Washington, DC.Citigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank's results and stock price.About 20,000 employees will be let go over the "medium term," New York-based Citigroup said Friday in a slideshow tied to fourth-quarter earnings. While it wasn't immediately clear how long that is, ...

  Q4 2023 Analyst Expectation Q4 2022Revenue $17.4B $18.8B $18BDiluted Earnings (loss) Per Share (EPS) ($1.16) 43 cents $1.16Net Income/ (loss) ($1.8B) $1.45B $2.5B"While the fourth quarter was very disappointing due to the impact of notable items, we made substantial progress simplifying Citi and executing out strategy in 2023," said Citi CEO Jane Fraser. Key Metric Citigroup has been struggling with growing expenses, and that prompted Fraser to launch a massive restructuring effort in September. But ah ...

About this content About Stephen Gunnion Stephen Gunnion is a senior financial journalist and broadcaster at Proactive Investors. He has more than 25 years of experience in television, radio and print media, anchoring on a number of television channels including South Africa's Business Day TV, CNBC Africa and the South African Broadcasting Corporation, where he was the economics editor. He has also worked for Daily Maverick, Bloomberg, the Business Day newspaper and Investors' Chronicle. Read more About ...

Citigroup Inc,’s stock C, -1.77% was up by 4% in premarket trading on Friday after its profit excluding multiple one-time items beat analyst estimates. Chief Executive Jane Fraser said the quarter “was very disappointing due to the impact of notable items” but the bank made “substantial progress” executing its strategy to simplify the bank. Citi is laying off 7,000 people as part of its restructuring. Citigroup said its fourth-quarter net loss including all items was $1.8 billion, or $1.16 a share. In the ...

NEW YORK--(BUSINESS WIRE)--Today Citi reported fourth quarter and full-year 2023 results, which can be found on its website at https://www.citigroup.com/global/investors. A Quarterly Financial Data Supplement with additional financial, statistical, and business-related information, as well as business and segment trends is also available. Citigroup will host a conference call today at 12:00 PM (ET) to review these results. To attend the live webcast please visit: https://www.veracast.com/webcasts/citigroup ...

Jane Fraser, CEO of Citigroup, attends a hearing on Annual Oversight of Wall Street Firms before the Senate Committee on Banking, Housing, and Urban Affairs in Washington, D.C., the United States, on Dec. 6, 2023.Citigroup is scheduled to report fourth-quarter earnings before the opening bell Friday.Here's what Wall Street expects:Earnings: 81 cents a share, according to LSEG, formerly known as Refinitiv.Revenue: $18.74 billionNet Interest Income: $13.19 billion, according to StreetAccountTrading Revenue: F ...

NEW YORK--(BUSINESS WIRE)--The Board of Directors of Citigroup Inc. today declared a quarterly dividend on Citigroup’s common stock of $0.53 per share, payable on February 23, 2024 to stockholders of record on February 5, 2024. The Board of Directors of Citigroup Inc. also declared dividends on Citigroup’s preferred stock as follows: – 5.350% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series D, payable February 15, 2024, to holders of record on February 5, 2025. Holders of depositary receipts ...