Barclays PLC (BCS) stock plummeted 5.07% during Thursday's trading session, following the release of the bank's fourth-quarter 2024 earnings results.
While Barclays' pretax profit and revenue beat consensus estimates, analysts noted that the results offered little new excitement for investors. The British bank's Q4 2024 GAAP earnings per share of $0.34 narrowly missed the estimate of $0.35, although sales of $8.927 billion were up from the previous year.
Citi analysts stated that despite the solid financial performance, the strong run-up in Barclays' share price over the past year may temper the initial reaction. The bank's return on tangible equity (RoTE) for Q4 2024 stood at 7.5%, while the full-year 2024 RoTE was 10.5%.
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