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DAILY EARNINGS

BlackRock, Goldman Sachs Net Jump; Citigroup Net Drop


Author: Mukesh Buch
ticker.com
Last Update: 11:48 AM ET January 16 2014

10:45 AM New York BlackRock fourth-quarter net surged 24% to $841 million. BB&T fourth-quarter net advanced 6% to $537 million. Citigroup fourth-quarter net plunged 17% to $2.7 billion. Goldman Sachs fourth-quarter net climbed 6% to $7.7 billion. UnitedHealth fourth-quarter net surged 15% to $1.4 billion.

Earnings Review

BlackRock, Inc (BLK), the investment manager said revenue in the fourth-quarter ending in December jumped 9% to $2.78 billion.

Net income in the quarter surged 24% to $841 million or $4.86 a diluted share compared to $690 million or $3.93.

BB&T Corporation (BBT), the financial service provider reported net sales in the fourth-quarter ending in December slipped 6% to $2.38 billion.

Net income in the quarter advanced 6.1% to $537 million or 75 cents a diluted share compared to $506 million or 71 cents.

Best Buy Co., Inc (BBY), the consumer electronics retailer said total revenue in the nine-week period ending on January 4 dropped 2.6% to $11.45 billion from $11.75 billion.

Comparable store sales in the United States for the period fell 0.9% and rose 0.1% internationally.

Domestic revenue declined 1.5% to $9.75 billion and online revenue reached $1.32 billion and comparable online sales increased 23.5%. International revenue plunged 8% to $1.70 billion.

Best Buy estimated non-GAAP operating margin in the fourth quarter ending on February 1 between 175 and 185 basis points lower than a year earlier.

Citigroup Inc. (C), the financial service provider stated total revenues in the fourth-quarter ending in December slid 1% to $17.8 billion.

Net income in the quarter plunged 17% to $2.69 billion or 85 cents a diluted share compared to $1.20 billion or 38 cents.

The Goldman Sachs Group, Inc (GS), financial broker and investment banker said net revenues in the fourth-quarter ending in December were flat at $34.2 billion.

Net income in the quarter climbed 6% to $7.73 billion or $15.46 a diluted share compared to $7.29 billion or $14.13.

UnitedHealth Group Incorporated (UNH), the healthcare company reported total revenues in the fourth-quarter ending in December climbed 7.9% to $31.1 billion.

Net income in the quarter surged 15% to $1.43 billion or $1.41 a diluted share compared to $1.24 billion or $1.20.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc