In brief: Citigroup records 24pc jump in profit
Published 16/07/2011 | 05:00
US BANKING giant Citigroup has recorded a strong rise in second-quarter profit, as falling credit losses offset a drop in revenues. Net profit increased to $3.3bn in the April-June period, a 24pc jump from $2.7bn in the same period last year, and an 11pc increase from the first quarter of 2011. Earnings per share were $1.09, beating analysts' consensus estimate of 97 cents. Revenues came in at $20.6bn, 7pc lower than in the same period last year.
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