Citigroup Earnings Beat Estimates on Dealmaking, Asset Sales
- Citi Holdings revenue jumps 61% on sale of OneMain, Japan unit
- Full-year adjusted earnings rise to highest since 2006
Citi Adjusted Earnings Rise to Highest Since 2006
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Citigroup Inc. boosted fourth-quarter profit more than analysts estimated as it generated higher revenue from investment banking and asset sales.
Net income climbed to $3.34 billion, or $1.02 a share, from $344 million, or 6 cents, a year earlier, the New York-based bank said Friday in a statement. Adjusted earnings per share of $1.06 beat the $1.05 average of 26 analysts surveyed by Bloomberg. For the full year, the company reported adjusted net income of $17.1 billion, the most since 2006, helped by cost cuts.