Citigroup (C) Blows Out Q2 Estimates; Reports Qtr. EPS of $0.40
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Citigroup, Inc. (NYSE: C) reports Q2 EPS of $0.40, versus the analyst estimate of ($0.37). Revenue for the quarter was $29.97 billion, up more than 70% from the $17.54 billion reported in the same quarter last year and versus the consensus of $22.36 billion.
The results include a $6.7 billion gain from the sale of Smith Barney.
Credit costs were up 81% to $12.4 billion, including $8.4 billion in net credit losses and $3.9 billion in loan loss reserve build.
Tier 1 capital was 12.7%.
UPDATE: Click here to see some highlights from Citi's Q2 conference call.
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