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 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.

Growth in investment banking and equity markets revenue helped drive a better-than-expected report for Citi in the third quarter, and those could be sources of strength again in the fourth quarter. Citi's stock was a strong performer in 2024,