por admin » Mar Ene 16, 2018 8:01 am
C reporta mejor de lo esperado
Citigroup earnings top expectations, excluding $19 billion charge for tax law changes
Fred Imbert | @foimbert
Published Updated Moments Ago
CNBC.com
Adjusted EPS: $1.28 per share vs. $1.19 expected by Reuters.
Revenue: $17.225 billion, in line with estimates.
Company takes charge of roughly $19 billion after the new tax bill was signed.
A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
Mario Tama | Getty Images
A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
Citigroup reported quarterly earnings on Tuesday that beat expectations. The big bank also reported a charge of roughly $19 billion following a revamp to the U.S. tax code.
The bank reported adjusted earnings per share of $1.28 for the fourth quarter of 2017. Analysts polled by Reuters expected earnings to come in at $1.19. Revenue came in roughly in line with expectations at $17.225 billion.
Citigroup also took at one-time, non-cash charge of about $22 billion for the quarter. The company said that approximately $19 billion are due to "re-measurement of DTA arising from reduction in the U.S. corporate tax rate and shift to territorial tax regime."
Last month, President Trump signed a bill that slashed the corporate tax rate to 21 percent from 35 percent. While the new law is expected to be a long-term positive for most companies, several announced they would have to take one-time charges stemming from the changes.