Monday April 2, 2018

// January 16th, 2018 // Daily News

Citigroup earnings top expectations, excluding $19 billion charge for tax law changes

Citigroup reported quarterly earnings on Tuesday that beat expectations. The big bank also reported a charge of roughly $19 billion following a revamp to the U.S. tax code.
The bank reported adjusted earnings per share of $1.28 for the fourth quarter of 2017. Analysts polled by Reuters expected earnings to come in at $1.19. Revenue came in roughly in line with expectations at $17.255 billion.
Citigroup also took at one-time, non-cash charge of about $22 billion for the quarter. The company said that approximately $19 billion are due to “re-measurement of DTA arising from reduction in the U.S. corporate tax rate and shift to territorial tax regime.”
Last month, President Trump signed a bill that slashed the corporate tax rate to 21 percent from 35 percent. While the new law is expected to be a long-term positive for most companies, several announced they would have to take one-time charges stemming from the changes.

Today’s Inspiration

But God, being [so very] rich in mercy, because of His great and wonderful love with which He loved us, even when we were [spiritually] dead and separated from Him because of our sins, He made us [spiritually] alive together with Christ (for by His grace–His undeserved favor and mercy–you have been saved from God’s judgment).

— Ephesians 2:4-5

Sometimes, when life gets discouraging, the best thing we can do is remind ourselves of the nature of God’s love.

One of the most beautiful things the Bible says is that while we were still sinners, Christ died for us (see Romans 5:8). He did not wait for us to deserve His love. He loves us unconditionally. To be honest, that’s hard for many of us to comprehend because we are so accustomed to having to earn everything in life.

Because of His great, wonderful and intense love for us, God poured His life out for us freely. That is revolutionary love—real, revolutionary love that gives itself away because it can never be satisfied doing anything less.

It is God’s unconditional love that draws us to Him, His amazing grace that erases our sin, and His powerful sacrifice that makes a way for us to enter His presence. His love will never quit, never give up, and never leave you. Whenever you feel down or depressed, remember the great love that God has for you.


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