Citigroup exceeds Wall Street expectations

Proving that a rising tide can lift even the most leaky of boats, Citigroup Inc. (C) became the latest Wall Street firm to post better-than-expected profits.

The New York-based bank posted a loss to common shareholders of $966 million because of the payment of loan losses and dividends. Excluding the dividend payments, Citigroup earned $1.6 billion. On a per-share basis, Citigroup lost 18 cents, beating the 34-cent loss analysts had predicted.

Shares were up 12 percent in pre-market trading.
Read Full Story

Markets

DJIA 25,413.22 123.95 0.49%
NASDAQ 7,247.87 -11.16 -0.15%
NIKKEI 225 21,680.34 -123.28 -0.57%
HANG SENG 26,183.53 80.19 0.31%
DAX 11,341.00 -12.67 -0.11%
USD (per EUR) 1.14 0.00 -0.04%
JPY (per USD) 112.81 0.02 0.02%
GBP (per USD) 1.28 0.00 0.05%
USD (per CHF) 1.00 0.00 0.04%