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Citigroup tops 4Q profit forecasts

FILE - In this July 9, 2014, file photo, the Transamerica Pyramid is reflected in the window of the main branch of Citibank in the Financial District of San Francisco. Citigroup Inc. reports financial results Wednesday, Jan. 18, 2017. (AP Photo/Eric Risberg, File) FILE - In this July 9, 2014, file photo, the Transamerica Pyramid is reflected in the window of the main branch of Citibank in the Financial District of San Francisco. Citigroup Inc. reports financial results Wednesday, Jan. 18, 2017. (AP Photo/Eric Risberg, File)

By Associated Press January 18, 2017 1 min read

NEW YORK (AP) – Citigroup Inc. (C) on Wednesday reported fourth-quarter profit of $3.57 billion.

The bank, based in New York, said it had earnings of $1.14 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.

The U.S. bank posted revenue of $20.29 billion in the period. Its adjusted revenue was $17.01 billion, which missed Street forecasts. Three analysts surveyed by Zacks expected $17.05 billion.

Citigroup shares have decreased almost 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 1 percent. The stock has increased 29 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on C at https://www.zacks.com/ap/C

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Keywords: Citigroup, Earnings Report, Priority Earnings