HenryTo
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Joined: 06 Aug 2004
Posts: 11732
Location: Los Angeles, California
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 Posted: Mon Jul 18, 2005 4:14 am Post subject: Citigroup fails to meet Street's growth targets |
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This just in: There is chirping outside the window - having a hard time sleeping so I woke up early.
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Citigroup fails to meet Street's growth targets (C) By Mike Maynard
WASHINGTON (MarketWatch) -- Citigroup Inc. (C) reported second-quarter net income of $5.07 billion, or 97 cents a share, up from $1.14 billion, or 22 cents, earned in the year-ago period. The financial-services giant's quarterly revenue eased 3% to $20.17 billion from $20.89 billion. Income from continuing operations came in at $4.73 billion, or 91 cents a share, for the latest quarter, up from the prior year's $916 million, or 17 cents a share. "The capital markets environment was one of the worst we have seen in years," said CEO Charles Prince. Analysts, on average, had been looking for earnings of $1.02 a share for the latest quarter, on revenue of $21.41 billion. Shares of Citigroup, a Dow Jones Industrial Average component, slipped 8 cents to end at $46.42 on Friday. |
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