Citi posts $1.3bn profit but revenues fall

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsapp Show Comments ▼ Tuesday 18 January 2011 8:33 am Citigroup has posted a $1.3bn (£820m) quarterly profit, as losses on bad loans fell, but the bank missed estimates on its earnings as it struggled with a slump in revenue.Its shares fell about 3.5 per cent to $4.95 in premarket trading.Citigroup, the third-largest US bank, reported a net profit of four cents per share for the fourth quarter. That compared with a year-earlier loss of $7.6bn, or 33 cents per share.Analysts on average expected it to post a profit of eight cents per share for the fourth quarter of 2010.The bank reported revenue of $18.4bn, an increase from a year earlier but a six per cent drop from the third quarter. Citigroup attributed the slump to a slowdown in its investment bank.Citi took $45bn in US bailout funds during the financial crisis. It was the fourth consecutive quarterly profit for Citigroup, and its first since the U. government finished selling off its stake in the company last month.Shares of Citigroup closed at $5.13 on Friday – their highest close since August 2009. Tags: NULLcenter_img whatsapp alison.lock Share More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPuffer fish snaps a selfie with lucky divernypost.com Citi posts $1.3bn profit but revenues fall last_img read more

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