Citi reports higher profit - DC News FOX 5 DC WTTG

Citi reports higher profit

Posted: Updated:

NEW YORK (AP) -- Citigroup is reporting earnings that beat Wall Street's expectations for the second quarter.
 
Profit for the March-to-June period was $3.9 billion after excluding an accounting gain, the bank reported Monday. That's up 26 percent from a year ago.
 
The profit amounted to $1.25 per share, beating the $1.18 per share predicted by analysts polled by FactSet.
 
Revenue was $20 billion after excluding the accounting gain, up 8 percent from the same period a year ago. That beat the $19.8 billion predicted by analysts.
 
Strong business from investment banking boosted Citi's results. The loss from Citi Holdings, where the bank stores troubled assets from the financial crisis, continued to shrink.
 
Citi's stock jumped 2 percent in pre-market trading to $51.80.

  • Your MoneyMore>>

  • Do you waive your right to sue if you follow a company on social media?

    Do you waive your right to sue if you follow a company on social media?

    Friday, April 18 2014 8:19 AM EDT2014-04-18 12:19:02 GMT
    General Mills quietly tweaked its legal policies, which made getting coupons or joining a contest online two things that would simultaneously prevent you from being able to sue the company. But what about Tweeting or just liking a General Mills company's Facebook page? There's concern about that, too.
    General Mills quietly tweaked its legal policies, which made getting coupons or joining a contest online two things that would simultaneously prevent you from being able to sue the company. But what about Tweeting or just liking a General Mills company's Facebook page? There's concern about that, too.
  • Wineries flourish in Brooklyn

    Wineries flourish in Brooklyn

    Thursday, April 17 2014 10:34 PM EDT2014-04-18 02:34:04 GMT
    Hundreds of oak barrels of wine are all stacked in one room. You might think this is Napa, California. But it's not. It's the Brooklyn Winery, located in what was once an old pickle factory in Williamsburg. Refrigerated grapes are brought in from the North Fork of Long Island and from the Finger Lakes and then aged in barrels. These days urban wineries are becoming more popular, and they're popping up all over the borough.
    Hundreds of oak barrels of wine are all stacked in one room. You might think this is Napa, California. But it's not. It's the Brooklyn Winery, located in what was once an old pickle factory in Williamsburg. Refrigerated grapes are brought in from the North Fork of Long Island and from the Finger Lakes and then aged in barrels. These days urban wineries are becoming more popular, and they're popping up all over the borough.
  • Catalog shopping is alive and well

    Catalog shopping is alive and well

    Thursday, April 17 2014 9:57 PM EDT2014-04-18 01:57:31 GMT
    Bonobos is an online men's clothing store. The company tried something new in 2013 by trying something, well, old. Bonobos mailed to some customers a traditional catalog. The results were very surprising to these Internet retailers: the catalog attracted more customers to the website. Bonobos' catalog circulation has now increased.
    Bonobos is an online men's clothing store. The company tried something new in 2013 by trying something, well, old. Bonobos mailed to some customers a traditional catalog. The results were very surprising to these Internet retailers: the catalog attracted more customers to the website. Bonobos' catalog circulation has now increased.
Powered by WorldNow

WTTG FOX 5 & myfoxdc
5151 Wisconsin Ave. NW
Washington, DC 20016
Main Number: (202) 244-5151
Newsroom: (202) 895-3000
fox5tips@wttg.com

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices