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United States of America

US : Finance Companies - Banking | C 4Q20 Quick Takes: Releases Reserves, Shares Lower Pre-Market Despite EPS Beat

    William J. Wallace IV
    David J. Long
    Michael Rose
    15 January 2021
    Published byCGS-CIMB

    C EPS beat:Citigroup (C/$69.01/not covered) reported 4Q20 GAAP EPS of $2.08, well above the $1.34 consensus (though a wide range at $1.01-1.82). A significantly lower provision expense (a negative provision/reserve release), lower operating expense, and slightly higher spread revenue relative to th