Citigroup (C) Reports Smaller-Than-Expected Q1 Loss
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Citigroup (NYSE: C) reports Q2 loss of $0.49 per share from continuing operations, better than the consensus of a $0.66 loss. Revenues came in at $18.65 billion, versus the consensus of $17.55 billion.
Results include $7.2 billion in pre-tax write-downs in Securities and Banking. Additionally, credit costs increased $4.5 billion, mainly driven by Consumer Banking in North America and Global Cards.
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