Citigroup’s second quarter results are through and the bank, it seems, continues in the tradition of Bank of America and JP Morgan before it.
Net income for the quarter came in at $2.73bn, down from $4.39bn the year before, but at 9 cents per share well above the 5-cent analyst consensus average.
The full press-release can be viewed here, with the following flashes via Reuters:
RTRS-CITIGROUP REPORTS SECOND QUARTER 2010 NET INCOME OF $2.7 BILLION; $0.09 PER DILUTED SHARE
13:00 16Jul10 RTRS-AUTO ALERT – CITIGROUP INC <C.N> Q2 SHR $0.09
13:00 16Jul10 RTRS-AUTO ALERT – CITIGROUP INC <C.N> Q2 REVENUE $22.1 BLN
13:00 16Jul10 RTRS-CITIGROUP INC <C.N> SAYS TIER 1 COMMON OF $99.5 BILLION AND ALLOWANCE FOR LOAN LOSSES OF $46.2 BILLION
13:00 16Jul10 RTRS-CITIGROUP INC <C.N> Q2 SHR VIEW $0.05, REV VIEW $22,156.10 MLN — THOMSON REUTERS I/B/E/S
13:00 16Jul10 RTRS-CITIGROUP INC <C.N> SAYS NET CREDIT LOSSES OF $8.0 BILLION DECLINED FOR THE FOURTH CONSECUTIVE QUARTER
13:00 16Jul10 RTRS-CITIGROUP INC <C.N> SAYS TIER 1 CAPITAL RATIO OF 12.0%; TIER 1 COMMON RATIO ( 1 ) OF 9.7%
13:00 16Jul10 RTRS-CITIGROUP INC <C.N> QTRLY CITICORP REVENUES OF $16.5 BILLION, NET INCOME OF $3.8 BILLION
13:00 16Jul10 RTRS-CITIGROUP INC <C.N> QTRLY CITI HOLDINGS REVENUES OF $4.9 BILLION, NET LOSS OF $1.2 BILLION
13:00 16Jul10 RTRS-CITIGROUP INC <C.N> – EXPENSES WERE UP 3% SEQUENTIALLY, REFLECTING THE IMPACT OF THE U.K. BONUS TAX
13:00 16Jul10 RTRS-CITIGROUP INC <C.N> QTRLY TOTAL PROVISIONS FOR CREDIT LOSSES AND FOR BENEFITS AND CLAIMS OF $6.7 BILLION
13:00 16Jul10 RTRS-CITIGROUP INC <C.N> QTRLY CONSUMER NET CREDIT LOSSES DECLINED $530 MILLION