From RTTNews:

Citigroup Inc. reported a net loss to common shareholders of $2.14 billion, compared to the prior-year quarter’s net income of $2.18 billion. The fourth-quarter results included pre-tax expenses associated with FDIC special assessment, reserve build, negative foreign exchange impact, and restructuring charge. Excluding these items, adjusted net income for the quarter was $0.84 per share. Analysts expected the company to report earnings of $0.79 per share.

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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