Citi Swings to a Profit and Announces $20B Stock Buyback
1. Citi's Q4 net income reached $2.86 billion, a significant turnaround. 2. Diluted EPS increased to $1.34, exceeding consensus estimates. 3. Revenue rose 12% year-over-year to $19.58 billion, beating expectations. 4. Citi's cost of credit decreased 27%, positively impacting net income. 5. Board approved a $20 billion stock buyback program this quarter.