Citigroup beats estimates
The bank's quarterly earnings of $2.2 billion top Wall Street expectations, though revenue falls just short.
By Laurie Kulikowski, TheStreet
On a continuing operations basis, earnings were 8 cents a share, and revenue came in at $20.7 billion. Analysts, on average, expected earnings of 6 cents a share on revenue of $21 billion.
Citicorp's net income was $3.5 billion and revenue was $16.3 billion, while Citi Holdings reported a net loss of $1.1 billion on $3.9 billion in revenue.
Citi shares were rising 3.5% Monday morning to $4.09.
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[BRIEFING.COM] The stock market ended the holiday-shortened week on a mixed note as the Dow Jones Industrial Average shed 0.1%, while the S&P 500 added 0.1% with seven sectors posting gains.
Equity indices faced an uphill climb from the opening bell after disappointing quarterly results from Google (GOOG 536.10, -20.44) and IBM (IBM 190.04, -6.36) weighed on the early sentiment. Google reported earnings $0.15 below the Capital IQ consensus estimate on revenue of $15.42 ... More
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