Citigroup (NYSE:C) today announced its financial results for the last quarter of 2023.
Citi posted a net loss of $1.8 billion for the final three months of 2023. That compares with net income of $2.5 billion for the year-ago quarter. The loss reflects higher credit costs, higher expenses and lower revenue.
Revenue for the fourth quarter of 2023 was $17.4 billion, up from $18 billion a year earlier.
Markets revenue for the period was $3.4 billion, down 19% from Q4 2022. The decline was primarily driven by lower Fixed Income revenue. The decline was partially offset by higher Equity revenue.
The Markets segment posted a net loss of $134 million, reflecting higher expenses, lower revenue and higher credit costs in the quarter.
