Citigroup Inc. (C) reported Friday a net loss to common shareholders of $2.14 billion or $1.16 per share for the fourth quarter, compared to net income of $2.18 billion or $1.16 per share in the prior-year quarter.
Results for the latest quarter included pre-tax expenses associated FDIC special assessment of about $1.7 billion, $1.3 billion of reserve build associated with transfer risk in Russia and Argentina, negative foreign exchange impact of $88o million and a restructuring charge of $780 million.
Excluding such items, adjusted net income for the quarter was $0.84 per share.
On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.79 per share for the quarter. Analysts' estimates typically exclude special items.
The provision for credit losses was $1.99 billion, compared to $1.18 billion last year.
Total revenues, net of interest expense, for the quarter decreased 3 percent to $17.44 billion from $18.01 billion in the prior-year quarter. Wall Street expected revenues of $18.75 billion for the quarter.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.