Citigroup stock is soaring Wednesday after the big bank topped earnings expectations and unveiled a massive stock buyback program. Here's why that's important.

Citigroup ( NYSE: C) stock gained 5.6% in Wednesday premarket trading after the megabank posted better-than-expected Q4 results and approved a $20B stock buyback program. Furthermore, the company expects its net interest income to rise in 2025.

Citigroup said its board of directors authorized a new multiyear $20 billion stock buyback program that will begin in the first quarter of 2025, helping to trigger a surge in the share price. CFO Mark Mason said the planned buyback reflects confidence in the bank’s strategy.

Citigroup (C) reported fourth-quarter results that exceeded expectations, sending shares higher in pre-market trading Wednesday. Citi's net income for the fourth quarter was $2.86 billion, up from a loss of $1.

Citigroup swung to a profit in the fourth quarter, fueled by strength in trading and a recovery in dealmaking that drove up investment banking fees. Trading desks at the banks benefited from a banner year in U.

Investors responded to Citigroup’s (C) quarterly earnings with enthusiasm as the stock jumped more than 7%. The mega financial company reported quarterly results that surpassed Wall Street analyst recommendations this morning.

Citigroup shares rose more than 6% on Wednesday after the bank topped Wall Street estimates for fourth-quarter profit on strong results across segments. The New York-based lender reported adjusted earnings of $1.

Citigroup on Wednesday reported stronger-than-expected fourth-quarter profit and revenue, while authorizing a $20 billion share buyback program, sending its shares by more than 2% before the bell. The bank posted a net income of $2.