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
  • DJI25628.90-623.34-2.37%
  • NIKKEI 22520710.9182.900.40%
    Hang Seng26179.33130.610.50%
  • USD (PER EUR)1.110.00000.00%
    USD (PER CHF)1.030.00000.00%
    JPY (PER USD)105.390.00000.00%
    GBP (PER USD)1.230.00000.00%