5 Stocks in The Limelight After Announcing Their Financial Results

3. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Holders: 79

Shares of Citigroup Inc. (NYSE:C) fell over two percent in the pre-market trading session on Friday, January 14, 2022, despite beating profit and sales expectations for the fourth quarter. The New York-based bank reported earnings of $1.46 per share, down from $1.92 per share in the year-ago quarter.

Revenue came in at $17 billion, nearly unchanged from $16.8 billion in the comparable period of 2020. Analysts were expecting Citigroup Inc. (NYSE:C) to post earnings of $1.39 per share on revenue of $16.85 billion.

If we look at the performance of key business segments, revenue from the institutional clients’ group (ICG) rose four percent versus last year to $9.9 billion. On the downside, revenue from the global consumer banking (GCB) fell six percent to $6.9 billion in the quarter.

Commenting on the quarter, CEO of Citigroup Inc. (NYSE:C), Jane Fraser, said:

“We continue to make steady progress on executing our strategy as demonstrated most recently by the signing of an agreement to sell four consumer businesses in Asia. We are also aligning our organization and reporting structure with our strategy, including the creation of the Personal Banking and Wealth Management and Legacy Franchises segments. This will make it easier for our investors to understand the performance of our core businesses and optimize the businesses we have chosen to exit.”