Citigroup reports $3.8bn in quarterly earnings


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Financial Times
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Monday April 15 2013

Breaking News
 
Citigroup reports $3.8bn in quarterly earnings
Citigroup reported $3.8bn in net income for the first three months of the year compared with $2.9bn a year ago after the first full quarter under new chief executive Mike Corbat.

Analysts had expected about $3.5bn and the outperformance was driven by strong earnings in the investment bank and an improving credit outlook in North America.

The third-biggest US bank by assets, which replaced Vikram Pandit with Mr Corbat as chief executive in October, reported earnings per share of $1.23 compared with $0.95 a share last year and analysts' estimates of $1.17.

http://link.ft.com/r/A1TNOO/HIPZXS/9ZND5E/TUJA39/Z8YT2A/4O/h?a1=2013&a2=4&a3=15
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