Citigroup: Q4 revenue up but earnings down

(CercleFinance.com) - Citigroup announced that it has recorded a net profit of 2.
51 billion dollars for Q4 2022, down 21% y-o-y.

Profit was notably affected by the increase in the cost of credit, which reached 1.8 billion dollars against -465 million dollars a year earlier.

Quarterly EPS was thus $1.16, compared to $1.46 in Q4 2021, despite a 6% increase in quarterly sales, from $17 billion to $18 billion.

Citigroup's FY revenue amounted to 75.3 billion dollars (+5% compared to 2021), while net profit fell 32% to 14.8 billion dollars, also affected by the rise in credit costs, from 3.7 billion dollars in 2021 to 5.2 billion dollars in 2022.


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