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Deconstructing Citi(group)’s Fourth Quarter

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+3.2% rise in 4Q operating profit
+Earnings from NY operations: up to $5.13 billion ($1.03/share), from last year’s $4.97 billion (98 cents/share)
+Net income down 26% to $5.13 billion ($1.03/share), from last year’s $6.93 billion ($1.37/share)
+Revenue up 15% to $23.83 billion
+Expenses up 23% to $13.96 billion (due to “increased business, acquisitions, investment spending and the effect of a year-earlier release of legal reserves”).
+ Finished the day with lunch money intact, though the same cannot be said for its pride, which was stuffed in a locker by Jamie Dimon and co.
Citigroup Operating Profit Up 3 Pct [Reuters via NYTimes]