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 finished the Thursday session on a higher note with the S&P 500 climbing 0.5%. The benchmark index registered an early high within the first 90 minutes and inched to a new session best during the final hour of the action.
Equities rallied out of the gate with the financial sector (+1.1%) providing noteworthy support for the second day in a row. The growth-oriented sector extended its September gain to 1.9% versus a more modest uptick of 0.4% for the ... More
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