KEYCORP REPORTS FOURTH QUARTER 2024 NET LOSS OF $(279) MILLION, OR $(.28) PER DILUTED COMMON SHARE, AND ADJUSTED NET INCOME OF $378 MILLION, OR $.38 PER DILUTED COMMON SHARE(a)
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KeyCorp reported a net loss of $279 million for Q4 2024, but adjusted net income was $378 million. Revenue increased by 16% year-over-year, with significant growth in investment banking, payments, and wealth management fees. The Common Equity Tier 1 ratio improved by 120 basis points.
January 21, 2025 | 11:45 am
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KeyCorp reported a Q4 2024 net loss of $279 million, but adjusted net income was $378 million. Revenue increased by 16% year-over-year, with strong growth in investment banking, payments, and wealth management fees. The CET1 ratio improved by 120 basis points.
Despite reporting a net loss, KeyCorp's adjusted net income and revenue growth are positive indicators. The increase in investment banking and wealth management fees, along with an improved CET1 ratio, suggests strong operational performance, likely leading to a positive short-term impact on stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100