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Citigroup reports steep drop in 4th-quarter earnings as operating expenses pile up

2 days ago   |   By Business Insider

Justin Sullivan/Getty Images
Citigroup reported $3.2 billion in net income for its fourth quarter, down 26% from a year ago.
The bank earned $1.46 a share, lower than an estimated $1.62 a share.
Operating expenses increased 18% year on year.
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Citigroup on Friday reported a 26% year-over-year drop in fourth-quarter net income to $3.2 billion as higher revenues were more than offset by rising expenses from the divestiture of its banking businesses in Asia. The third-largest bank in the US said operating expenses...
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JPMorgan beats 4th-quarter revenue and profit estimates - and CEO Jamie Dimon offers a bullish outlook for the US economy

2 days ago   |   By Business Insider

Jamie Dimon. Chip Somodevilla/Getty Images
JPMorgan reported fourth-quarter earnings Friday that beat Wall Street's forecasts.
However, the bank posted lower profits in three of its four main divisions.
CEO Jamie Dimon offered an optimistic outlook for the US economy.
JPMorgan Chase reported fourth-quarter revenues and earnings on Friday that beat Wall Street's forecasts. However, profits slumped in three of its four main divisions. The largest US bank reported $30.35 billion in managed revenue and $3.33 in diluted EPS, exceeding Bloomberg consensus estimates of $30.00 billion and $2.99...
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