Citigroup Inc (NYSE:C) reported a fourth-quarter FY23 revenue decline of 3% year-over-year to $17.44 billion, missing the consensus of $18.74 billion. Adjusted EPS of $0.84 beat the consensus of $0.81. GAAP EPS loss was $(1.16), excluding the divestiture-related impacts. Net credit losses for the fourth quarter were $1.99 billion, up 69% year-over-year. Services revenue grew 6% Y/Y to $4.5 billion, mainly driven by higher net interest income across Treasury and Trade Solutions (TTS) and Security
Citigroup Inc. (NYSE:C), one of the world's largest multinational financial corporations, has a bullish outlook on the U.S. stock market, as the Federal Reserve plans to implement rate cuts three times in fiscal 2024. Despite geopolitical tensions and macroeconomic headwinds indicating recession risks, Citigroup analysts expect the fundamentally sound U.S. equities to persevere, driven by solid earnings growth. The banking institution expects the benchmark S&P 500 index to rise by nearly 9% in f