Citigroup Inc. reported earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, total revenues were $17,255 million against $17,012 million a year ago. Income from continuing operations before taxes was $5,099 million compared with $5,100 million a year ago. Loss from continuing operations was $18,171 million compared with profit of $3,591 million a year ago. Net loss was $18,299 million compared with profit of $3,573 million a year ago. Adjusted net income was $3,701 million compared with $3,573 million a year ago. Adjusted EPS was $1.28 compared with $1.14 a year ago. Adjusted ROE was 6.5% compared with 6.2% a year ago. Negative return on average common equity was 36.3% compared with return on average common equity was 6.2% a year ago. Book value per share was $70.85 compared with $74.26 a year ago. Tangible book value per share was $60.40 compared with $64.57 a year ago. LPS was $7.15 compared with EPS of $1.14 a year ago.

For the year, total revenues were $71,449 million against $69,875 million a year ago. Income from continuing operations before taxes was $22,761 million compared with $21,477 million a year ago. Loss from continuing operations was $6,033 million compared with profit of $15,033 million a year ago. Net loss was $6,204 million compared with profit of $14,912 million a year ago. Adjusted net income was $15,796 million compared with $14,912 million a year ago. Adjusted EPS was $5.33 compared with $4.72 a year ago. LPS was $5.33 compared with EPS of $4.72 a year ago.

The company provided earnings guidance for the year 2018. For the year 2018, the company expects effective tax rate to be around 25% in 2018 with line of sight to a 24% rate over the next 2 years. This combination of higher earnings before tax, continued capital return and the impact of tax reform is expected to drive a significant improvement in RoTCE in 2018. The company expects core accrual net interest revenues to grow by another $2.5 billion year-over-year driven by loan growth, mix improvement and the benefit of higher rates assuming one additional Fed rate increase midyear. For the full year 2018, the company expects top line growth broadly in line with the medium-term outlook as described in July at around 3%, plus or minus, with stronger growth in operating businesses being offset by the continued wind down of legacy assets.