Citigroup's Earnings Dragged Down by Bond Traders

Filed under: Earnings Reports, Analyst Reports, Management, Citigroup Inc. (C), Money and Finance Today, Headline News

Citigroup, Inc. (C) could have done better. Revenue from bond trading took a big hit. John Gerspach, Chief Financial Officer acknowledged that fixed income was weak and needs fixing.



Citi's profit was $1.3 billion compared with the year earlier loss of $7.6 billion. Revenue more than tripled to $18.4 billion from $5.4 billion a year ago. However it fell 11% from the third quarter. Citi has been aggressive in hiring more bankers causing expenses to rise. Earnings per share were four cents compared with a loss of 33 cents a year ago, as reported in the Wall Street Journal.

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Citigroup's Earnings Dragged Down by Bond Traders originally appeared on BloggingStocks on Tue, 18 Jan 2011 16:45:00 EST. Please see our terms for use of feeds.

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