CITIGROUP : Q3 le 17 octobre??

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17 octobre 2011 •09:05

je pense today à 22h...

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17 octobre 2011 •14:43

NEW YORK (TheStreet) -- Citigroup(C) beat third quarter analyst expectations, reporting a net income jump of 72%, driven by

The bank said net income rose to $3.8 billion or $1.23 per share in the third quarter compared to $2.2 billion or 72 cents per share in the year-ago period. An accounting gain from the falling value of its own debt added 39 cents to the earnings per share.

Excluding those gains, Citigroup reported a third-quarter earnings per share of 84 cents, still ahead of analyst expectations of 81 cents per share. Profits were also boosted by a $1.4 billion release of reserves as the bank continued to benefit from improving asset quality.

Revenues came in at $20.8 billion, up slightly from the year-ago quarter and topping the Street's expectations. Excluding the one-time gain, revenues were $18.9 billion, 8% below the prior year period and 8% below the second quarter 2011. Weak trading and investment banking revenues offset strength in international consumer banking businesses.

Operating expenses increased 8% from the prior year period to $12.5 billion, reflecting higher expenses from the impact of foreign exchange translation, higher legal and related expenses and ongoing investment spending,

"Citi continues to navigate a challenging economic environment and delivered another quarter of solid operating results," Vikram Pandit, Citi's Chief Executive Officer, said in a statement. "We continued to manage our risk prudently while growing the businesses that are core to our strategy."

Citigroup announced that it planned to retain its retail partner cards business after it reported significant strength. "Over the past few years we have significantly strengthened our retail partner cards business and it has earned $2.2 billion pre-tax through the first three quarters. After a careful review of the business, which took into account current trends in credit and technology, we have decided that it makes strategic sense to move retail partner cards and a vast majority of its assets from Citi Holdings into Citicorp. The transition will be completed by the end of this year," the bank said.

M5766000

17 octobre 2011 •15:38

(AOF) - Citigroup a publié un bénéfice net de 3,77 milliards de dollars au troisième trimestre, soit 1,23 dollar par action. L'an dernier, la banque américaine avait dégagé un résultat net de 2,17 milliards de dollars, soit 72 cents par action. La banque dit avoir eu besoin de provisionner moins de sommes pour effacer ses pertes liées à des actifs toxiques.

M5766000

17 octobre 2011 •15:41

pas terrible