Investing.com -- Citigroup on Wednesday reported stronger-than-expected fourth-quarter profit and revenue, while authorizing a $20 billion share buyback program, sending its shares by more than 2% before the bell.
The bank posted a net income of $2.9 billion, or $1.34 per share, surpassing analysts' estimates by 12 cents. Also, a turnaround from the prior year's loss of $1.8 billion, or loss of $1.16 per share.
Revenue for the quarter ended Dec. 31 rose to $19.58 billion, beating the consensus estimate of $19.45 billion.
"We returned nearly $7 billion of capital to common shareholders and our Board of Directors has authorized a program to repurchase $20 billion in common stock," CEO Jane Fraser said
Citigroup (NYSE:C) outlined its 2025 outlook during a presentation, forecasting revenue in the range of $83.5 billion to $84.5 billion.
The bank also expects expenses to come in slightly lower than about $53.8 billion, with net interest income excluding markets projected to rise modestly year-over-year.
"We entered 2025 with momentum across our businesses and we continue to strengthen our ability to serve our clients. While we now expect our 2026 RoTCE to be between 10% and 11% in order to make additional investments in our businesses and transformation," Citi CEO added.