Monday, March 20, 2023
198 Mexico News
No Result
View All Result
  • Home
  • BUSINESS NEWS
  • VIDEO NEWS
  • FEATURED NEWS
    • MEXICO USA TRADE NEWS
    • MEXICO EU NEWS
    • MEXICO UK NEWS
    • MEXICO BRAZIL NEWS
    • MEXICO INDIA NEWS
    • MEXICO GULF NATIONS NEWS
    • MEXICO CHINA NEWS
    • MEXICO EGYPT NEWS
    • MEXICO AFRICA NEWS
    • MEXICO NIGERIA NEWS
    • MEXICO THAILAND NEWS
  • POLITICAL NEWS
  • TECHNOLOGY
  • CRYPTO
  • AGRICULTURE
  • MORE NEWS
    • MEXICO IMMIGRATION NEWS
    • MEXICO SCHOLARSHIP NEWS
    • MEXICO VENTURE CAPITAL NEWS
    • MEXICO EDUCATION NEWS
    • MEXICO BUSINESS HELP
    • MEXICO PARTNESHIPS
    • MEXICO MANUFACTURE NEWS
    • MEXICO UNIVERSITY NEWS
    • MEXICO JOINT VENTURE NEWS
  • ASK IKE LEMUWA
  • CONTACT
198 Mexico News
  • Home
  • BUSINESS NEWS
  • VIDEO NEWS
  • FEATURED NEWS
    • MEXICO USA TRADE NEWS
    • MEXICO EU NEWS
    • MEXICO UK NEWS
    • MEXICO BRAZIL NEWS
    • MEXICO INDIA NEWS
    • MEXICO GULF NATIONS NEWS
    • MEXICO CHINA NEWS
    • MEXICO EGYPT NEWS
    • MEXICO AFRICA NEWS
    • MEXICO NIGERIA NEWS
    • MEXICO THAILAND NEWS
  • POLITICAL NEWS
  • TECHNOLOGY
  • CRYPTO
  • AGRICULTURE
  • MORE NEWS
    • MEXICO IMMIGRATION NEWS
    • MEXICO SCHOLARSHIP NEWS
    • MEXICO VENTURE CAPITAL NEWS
    • MEXICO EDUCATION NEWS
    • MEXICO BUSINESS HELP
    • MEXICO PARTNESHIPS
    • MEXICO MANUFACTURE NEWS
    • MEXICO UNIVERSITY NEWS
    • MEXICO JOINT VENTURE NEWS
  • ASK IKE LEMUWA
  • CONTACT
No Result
View All Result
198 Mexico News
No Result
View All Result

Citigroup reports $17 billion in Q4 revenue vs. $16.75 billion expected

by 198 Mexico News
January 14, 2022
in VIDEO NEWS FROM AROUND THE WORLD
Reading Time: 2 mins read
A A
0
Home VIDEO NEWS FROM AROUND THE WORLD
Share on FacebookShare on Twitter



CNBC’s Wilfred Frost joins ‘Squawk Box’ to break down the latest fourth-quarter earnings report from Citigroup. For access to live and exclusive video from CNBC subscribe to CNBC PRO:

You might also like

Task force investigating Fmr. Japanese Prime Minister's assassination

Watch former Japan PM Shinzo Abe's last global exclusive interview on WION

Japan's ex-leader Shinzo Abe dies after being shot at during speech – BBC News

Citigroup shares fell more than 3% on Friday after the banking giant reported a steep profit drop for the fourth quarter.

Here’s how the bank fared in the quarter compared with what analysts expected:

Earnings per share: $1.46 vs. $1.38 estimated by Refinitiv
Revenue: $17 billion vs. $16.75 billion expected
The company’s net income dropped 26% to $3.2 billion. Citigroup cited an increase in expenses for the sharp decline, adding that the results included a “pre-tax impact” of about $1.2 billion related to the sale of its consumer banking businesses in Asia.

Citigroup reported an 18% year-over-year increase in operating expenses to $13.5 billion for the quarter.

The company’s global consumer banking business saw revenue decline by 6% year over year to $6.94 billion. Within the North America region, Citigroup revenue fell by 6% to $4.4 billion as sales from Citi-branded cards and retail services fell. In Asia, revenue dropped by 9%, while Latin America sales declined by 4%. Expenses within the bank’s global banking division also surged by 33% from the year-earlier period.

To be sure, Citigroup’s institutional clients group saw revenue increase by 4% to $9.9 billion. That revenue figure was driven by an 18% jump in investment banking. Citigroup’s fixed income markets revenue, however, dropped by 20% year over year to $2.5 billion.

For 2021, Citigroup said its net income nearly doubled from 2020 to $21.95 billion, while full-year revenue declined by 5% to $71.88 billion.

“We continue to make steady progress on executing our strategy as demonstrated most recently by the signing of an agreement to sell four consumer businesses in Asia,” CEO Jane Fraser said in a release. “We continue to transform our bank with a focus on simplification and building a culture of excellence.”

When Jane Fraser took over for predecessor Michael Corbat a year ago, her mandate was to improve returns at the third-biggest U.S. bank by assets.

To do so, she has opted to exit less-profitable parts of the firm’s global empire. Her first major strategic move was to leave 13 retail markets across Asia and Europe; since that April announcement she has disclosed plans to depart South Korea and Mexico.

The bank’s results followed JPMorgan Chase and Wells Fargo releasing their latest quarterly numbers. JPMorgan Chase posted stronger-than-expected numbers, but the stock still dipped 5.7%. Wells Fargo shares gained 2.6% on the back of a better-than-forecast revenue figure.

» Subscribe to CNBC TV:
» Subscribe to CNBC:

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30:
 
Connect with CNBC News Online
Get the latest news:
Follow CNBC on LinkedIn:
Follow CNBC News on Facebook:
Follow CNBC News on Twitter:
Follow CNBC News on Instagram:

#CNBC
#CNBCTV

source

Tags: BillionCitigroupexpectedglobal newsglobal news mexicointernational news todaylatest global newslatest global news todaymexico business news todaymexico newsreportsrevenueworld news today
Share30Tweet19
Previous Post

Bastille 2022: Building a Worldwide Movement Against “Corona Tyranny”

Next Post

Shiba Inu Token (SHIB) Price Prediction for 2022, 2023, 2024, 2025, 2030

Recommended For You

Task force investigating Fmr. Japanese Prime Minister's assassination

by 198 Mexico News
July 10, 2022
0
Task force investigating Fmr. Japanese Prime Minister's assassination

Former PM Shinzo Abe was shot during a campaign speech in western Japan on Friday. A 90-person task force is now looking into how the shooting happened. More:...

Read more

Watch former Japan PM Shinzo Abe's last global exclusive interview on WION

by 198 Mexico News
July 9, 2022
0
Watch former Japan PM Shinzo Abe's last global exclusive interview on WION

In May, Former Japanese PM Shinzo Abe had told WION's Managing Editor Palki Sharma that the India-Japan relationship has the biggest potential. Catch the full interview soon. #ShinzoAbe...

Read more

Japan's ex-leader Shinzo Abe dies after being shot at during speech – BBC News

by 198 Mexico News
July 8, 2022
0
Japan's ex-leader Shinzo Abe dies after being shot at during speech – BBC News

Former Japanese PM Shinzo Abe, 67, has died in hospital after he was shot at a political event in southern Japan, according to local media. Mr Abe was...

Read more

Gravitas: Floods are wreaking havoc globally

by 198 Mexico News
July 7, 2022
0
Gravitas: Floods are wreaking havoc globally

Flood fury is wreaking havoc across the world. Australia, China, Bangladesh & North-East India are reeling under floods. Molly Gambhir brings you a report on the scale of...

Read more

Russia says missile strike hits Snake Island after Ukrainian forces raise flag

by 198 Mexico News
July 7, 2022
0
Russia says missile strike hits Snake Island after Ukrainian forces raise flag

Ukraine released video on Thursday showing military servicemen installing the national flag on Snake Island in the Black Sea, however Russia's defence ministry later claimed a warplane had...

Read more
Next Post
Shiba Inu Token (SHIB) Price Prediction for 2022, 2023, 2024, 2025, 2030

Shiba Inu Token (SHIB) Price Prediction for 2022, 2023, 2024, 2025, 2030

Clinton, Trump & ‘mystery PM’ could face humiliation as Andrew’s accuser bids to unseal secret Epstein & Maxwell docs

Clinton, Trump & 'mystery PM' could face humiliation as Andrew's accuser bids to unseal secret Epstein & Maxwell docs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Unprecedented price hikes put the squeeze on Iranian tenants | Economy News

Unprecedented price hikes put the squeeze on Iranian tenants | Economy News

July 26, 2022
U.S. is sidelined in critical minerals push

U.S. is sidelined in critical minerals push

July 26, 2022
China, Russia Dominate Nuclear Reactor Construction, IEA Says

China, Russia Dominate Nuclear Reactor Construction, IEA Says

July 26, 2022
Credentials for cosmetic surgery centers in Tijuana to be scrutinized

Credentials for cosmetic surgery centers in Tijuana to be scrutinized

July 25, 2022
New group of 2,000 migrants sets off in southern Mexico

New group of 2,000 migrants sets off in southern Mexico

July 25, 2022
New group of 2,000 migrants sets off in southern Mexico :: WRAL.com

New group of 2,000 migrants sets off in southern Mexico :: WRAL.com

July 25, 2022
Ethereum Weekly Exchange Net Flow Points To Growing Accumulation Trend

Ethereum Weekly Exchange Net Flow Points To Growing Accumulation Trend

July 25, 2022
San Diego’s wastewater shows COVID-19 cases about to spike

San Diego’s wastewater shows COVID-19 cases about to spike

July 25, 2022
198 Mexico News

198 Mexico News will provide the latest news update as the government facing a growing challenging in preventing Mexico from breaking apart along ethnic and religious lines.

198massmedia Group. USA. 3821 Dominion Drive, Dumfries, USA. 22026.

Toll Free 1 888 642 8433.
Contact: info@198mexiconews.com

LATEST UPDATES

Unprecedented price hikes put the squeeze on Iranian tenants | Economy News

U.S. is sidelined in critical minerals push

China, Russia Dominate Nuclear Reactor Construction, IEA Says

Credentials for cosmetic surgery centers in Tijuana to be scrutinized

New group of 2,000 migrants sets off in southern Mexico

New group of 2,000 migrants sets off in southern Mexico :: WRAL.com

Ethereum Weekly Exchange Net Flow Points To Growing Accumulation Trend

San Diego’s wastewater shows COVID-19 cases about to spike

RECOMMENDED

No Content Available
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - 198 Mexico News.

No Result
View All Result
  • Home
  • BUSINESS NEWS
  • VIDEO NEWS
  • FEATURED NEWS
    • MEXICO USA TRADE NEWS
    • MEXICO EU NEWS
    • MEXICO UK NEWS
    • MEXICO BRAZIL NEWS
    • MEXICO INDIA NEWS
    • MEXICO GULF NATIONS NEWS
    • MEXICO CHINA NEWS
    • MEXICO EGYPT NEWS
    • MEXICO AFRICA NEWS
    • MEXICO NIGERIA NEWS
    • MEXICO THAILAND NEWS
  • POLITICAL NEWS
  • TECHNOLOGY
  • CRYPTO
  • AGRICULTURE
  • MORE NEWS
    • MEXICO IMMIGRATION NEWS
    • MEXICO SCHOLARSHIP NEWS
    • MEXICO VENTURE CAPITAL NEWS
    • MEXICO EDUCATION NEWS
    • MEXICO BUSINESS HELP
    • MEXICO PARTNESHIPS
    • MEXICO MANUFACTURE NEWS
    • MEXICO UNIVERSITY NEWS
    • MEXICO JOINT VENTURE NEWS
  • ASK IKE LEMUWA
  • CONTACT

Copyright © 2022 - 198 Mexico News.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?