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 Nasdaq Composite (+0.5%) and S&P 500 (+0.2%) posted modest gains on Thursday, but not before enduring a morning dip into the red, which took place in reaction to reports indicating Russia has commenced military exercises on the Ukrainian border.
The news from Europe knocked the key indices from their early highs, while giving a boost to safe-haven assets like gold futures (+0.5% to $1290.80/ozt), Treasuries (10-yr yield -1 bps to 2.69%), and the Japanese yen (102.30 ... More
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