The results are out and Citi have beaten Wall Street estimates but new income fell by 2%. Revenue for IB and securities trading fell 12% though from the strong quarter year.
Apart from improved capital markets/the economy, do you think Citi are doing anything else right?
Here’s the article: Yahoo url
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Um, their consumer bank's profit is up 14%. That alone is a big deal, since it's by far their biggest unit. But even in your own points, you're off target.
Sure, on a GAAP basis, trading profit is down substantially - due to a one-time charge (CVA). On a pro-forma basis (ex-CVA), trading was up 11% YoY, and this is all that anyone cares about. Ex-CVA, Citi posted $1.11 EPS, crushing estimates. So I would say that Citi did a lot right.
Citi did very well actually as the poster above mentioned^
I am interested to see how Goldman fared
Will all the BB's be posting results soon? When are GS' out?
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