Citigroup Reports Strong Earnings as Stock Continues to Rise

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.