Citigroup Reports $1.3 billion Q4 Net Income
Tuesday, January 18, 2022 10:57 AM

Related Stories



Citigroup Inc. (NYSE:C) reported Q4 net income of $1.3 billion, or $0.04 per diluted share, compared to a net loss of $7.6 billion, or $0.33 per diluted share, in the fourth quarter of 2009.

Citigroup net income for full year 2010 was $10.6 billion, or $0.35 per diluted share, compared to a net loss of $1.6 billion, or $0.80per share, in 2009.

The company’s revenues in the fourth quarter 2010 were $18.4 billion including negative CVA of $1.1 billion. Excluding CVA, the revenues of $19.5 billion were down 6% from the prior quarter, principally driven by lower Securities and Banking revenues and lower gains on sale of AFS securities.

On other hand, Citicorps' net income remained strong in 2010 at $14.9 billion, while Citi Holdings net loss decreased 52%, from $8.9 billion to $4.2 billion, when compared to 2009. Citi Holdings' assets stood at $359 billion at the end of 2010, down from $487 billion at the end of 2009. This performance helped Citi to continue to improve its capital strength, as its Tier 1 Common ratio increased from 9.6% to 10.7% over the course of the year.

At the same time, Citi continued to wind down Citi Holdings in an economically rational manner, reducing assets by $128 billion in 2010 alone. Holdings' total assets were reported to have declined by more than half from their peak in 2008 to $359 billion, which proves less than 20% of its balance sheet.

The group last traded at $4.89, down 4.68%.

 

Sponsors

Symbol :

Advertisement

Market news:

  • Smart phones foster dumb habits among pedestrians Jan 20, 2022 11:39 PM

    • NEW YORK - It was a miserable morning in New York, rain falling heavily and a 30 mph wind that made holding an umbrella difficult.
    • Yet a man walked briskly up Fifth Avenue, balancing his umbrella and dodging pedestrians as he texted from his smart phone.
    • While smart phones and other electronic devices changed popular culture by offering an ability to always stay connected, they have so swiftly turned into such a compelling need that a simple walk down the street is considered wasted time.
      • Wal-Mart gives boost to push for healthier food Jan 20, 2022 11:36 PM

        • WASHINGTON - Attention, Walmart shoppers: The food in your cart, from fruit drinks to salad dressing, may soon get healthier.
        • The nation's largest grocer said Thursday it will reformulate thousands of store-brand products to reduce sodium and sugar and push its suppliers to do the same.
        • First lady Michelle Obama said Wal-Mart's plans have "the potential to transform the marketplace and help Americans put healthier foods on their tables every single day."
          • More than 120 busted in Northeast Mafia crackdown Jan 20, 2022 11:26 PM

            • NEW YORK - Federal authorities orchestrated one of the biggest Mafia takedowns in FBI history Thursday, charging 127 suspected mobsters and associates in the Northeast with murders, extortion and other crimes spanning decades.
            • This time, authorities used a shotgun approach, with some 800 federal agents and police officers making scores of simultaneous arrests stemming from different mob investigations in New York, New Jersey and Rhode Island.
            • They also used fanfare: Attorney General Eric Holder made a trip to New York to announce the operation at a news conference with the city's top law enforcement officials.
              • AP Enterprise: Blackwater founder trains Somalis Jan 20, 2022 11:26 PM

                • NAIROBI, Kenya - Erik Prince, whose former company Blackwater Worldwide became synonymous with the use of private U.S. security forces in Iraq and Afghanistan, has quietly taken on a new role in helping to train troops in lawless Somalia.
                • Prince is involved in a multimillion-dollar program financed by several Arab countries, including the United Arab Emirates, to mobilize some 2,000 Somali recruits to fight pirates who are terrorizing the African coast, according to a person familiar with the project and an intelligence report seen by The Associated Press.
                • The European Union is training about 2,000 Somali soldiers with U.S. support, and an African Union force of 8,000 Ugandan and Burundian peacekeepers is propping up the government.
                  • NASA gives go-ahead to another shuttle flight Jan 20, 2022 11:24 PM

                    • WASHINGTON - NASA doesn't know yet where it will get the money, but on Thursday the space agency officially added another space shuttle launch to its schedule - the final one for the fleet.
                    • Now three missions remain before NASA retires its shuttle fleet this year.
                    • Shuttle Discovery's last mission is slated for Feb. 24, Endeavour's in April.

                      More news


Advertisement

    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
XXXXXXXXXX LVS$0.38
ASAS BAC$0.16
danPersonal BAC$0.16
samXXXXX JCI$0.54
brobbrinc INTC$0.53
brobbrinc RIMM$1.64
XXXXXXXXXX CWEI$1.27
XXXXXXXXXX RDWR$0.22
XXXXXXXXXX NR$0.09
XXXXXXXXXX BAC$0.16