REUTERS/Ueslei Marcelino
Citigroup reported Q4 earnings on Friday that beat on the top and bottom lines.
The firm reported adjusted earnings per share of $1.06 on revenue of $18.6 billion.
Analysts were expecting adjusted earnings per share of $1.05 on revenue of $17.93 billion, according to Bloomberg.
"Overall, we had strong performance during 2015," CEO Michael Corbat said in a statement. "The $17.1 billion we generated in net income was the highest since 2006, when our company was very different in terms of headcount, footprint, mix of businesses and assets."
Citi's full year net income came in at $17.2 billion on revenues of $76.4 billion, compared to net income of $7.3 billion on revenues of $77.2 billion for the full year 2014.
Here's the breakdown for the quarter by division:
- Investment banking revenue came in at $1.12 billion ($978 million expected)
- Fixed income, currencies, and commodities revenue was $2.22 billion ($2.14 billion expected)
- Equity revenue came in at $606 million ($771 million expected)
- Total trading revenue was $3.24 billion ($2.9 billion expected)
In the same quarter last year, Citi missed on earnings, reporting earnings per diluted share of $0.06 ($0.09 expected), on revenue of $17.81 billion ($18.61 billion expected).
In the third quarter, Citi beat expectations, reporting earnings per share of $1.31 ($1.28 expected), but fell short on revenue, reporting $18.5 billion ($18.6 billion expected).
JPMorgan reported fourth-quarter earnings on Thursday that beat on the top and bottom lines, and set a high bar for the rest of Wall Street.
Wells Fargo also reports earnings on Friday morning, while Bank of America, Morgan Stanley, and Goldman Sachs will report next week.
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