: : Citi net income falls but beats target, shares dip #FinanceUSA #StockMarketNEWS Citigroup Inc. C shares fell 2.4% in premarket trades on Friday after the bank posted lower profit. Fourth-quarter
@stockMarketNEWS 21 Days ago
: Citi net income falls but beats target, shares dip #FinanceUSA #StockMarketNEWS
Citigroup Inc. C shares fell 2.4% in premarket trades on Friday after the bank posted lower profit. Fourth-quarter net income fell to .5 billion, or .16, from .2 billion, or .46 a share, in the year-ago quarter. Analysts were looking for earnings of .14 a share, according to a survey by FactSet. Revenue increased 6% to .0 billion, slightly above the analyst estimate of .96 billion. Excluding divestments, revenue rose 5%, as the impacts of higher interest rates across businesses and the strong loan growth in U.S. personal banking were partially offset by a decline in investment banking and lower investment product revenue in global wealth management as well as impacts from the exited markets.
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