Citigroup (C) reported fourth-quarter results that exceeded expectations, sending shares higher in pre-market trading Wednesday. Citi's net income for the fourth quarter was $2.86 billion, up from a loss of $1.

Citigroup’s fourth-quarter results just landed. The bank swung to a profit, boosted by stronger revenue in divisions including equity markets and investment banking. Some key numbers: Net income came in at $2.

Wall Street's dealmakers have also cashed in on a revival in mergers, acquisitions and initial public offerings after an almost three-year-long dry spell. Banks' capital markets businesses got a boost in the second half of 2024 as corporate clients issued more debt and equity.

Citigroup (NYSE:C) stock gained 5.6% in Wednesday premarket trading after the megabank posted better-than-expected Q4 results and approved a $20B stock buyback program. Furthermore, the company expects its net interest income to rise in 2025.

Citigroup Inc. lowered a crucial profitability target central to Chief Executive Officer Jane Fraser's plan to turn around the bank, but offered investors a sweetener in the form of share buybacks. Bloomberg's Todd Gillespie has the story.

Citigroup stock is soaring Wednesday after the big bank topped earnings expectations and unveiled a massive stock buyback program. Here's why that's important.