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Bank of America and Citigroup: Poor Q4 results see share prices fall sharply

MarketLine

Yesterday (January 15), Bank of America (BoA) and Citigroup announced underwhelming results for Q4 2014 that seemingly caught the market off guard and caused share prices in both banks to fall. Bank of America announced Q4 revenues of $18,955m, down 12.7% on the same period a year earlier. Net income also fell from $3,439m in Q4 2013 to $3,050m, a drop of 11.3%. This has impacted preliminary 2014 full year results as revenue has fallen 5.2% on a year-on-year basis, and net income by a staggering 57.7%. Citigroup’s results did… Read more