Citigroup Reports Strong Earnings as Stock Continues to Rise
Citigroup ended 2024 with an impressive 37% gain for shareholders
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- Written by Global Exchange staff
One of America’s largest financial institutions, Citigroup, ended 2024 with an impressive 37% gain for shareholders on the year and this week’s report does not show any signs of a slowdown.
It’s fourth quarter net income was $2.86 billion, vast improvement from a year ago. It also announced a major stock buyback of more than $20 billion.
Shares of the stock rose another 3% on Wednesday’s news.
Investment banking and loan hedges were two of the catalysts for growth but almost every major division showed growth.
The stock had already grown by 4% in the last two weeks even before the news as investors like the turn around efforts over the past three year.
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