Citigroup Earnings Disappoint, Shares Dip

Citigroup Earnings Disappoint, Shares Dip

Citigroup Inc (NYSE:C) released its earnings report for the three months ended September 30 this morning before the market opened on Wall Street. The firm showed earnings of $1.02 per share for the quarter on revenue of $18.62 billion. Shares in the company were trading down more than 1% in pre-market after the announcement of the result.

Citigroup Earnings Disappoint, Shares Dip

Analysts following the bank were looking for earnings of $1.08 per share for the third quarter of the year. Revenue is expected to come in at $18.9 billion for the same period. In the same three months of 2012 Citigroup Inc (NYSE:C) earned $1.06 per share on revenue totaling $19.4 billion.

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Citigroup earnings

GAAP earnings for the period cam in at just $1 per share, a disappointing number for Citigroup Inc (NYSE:C) investors. Part of the fall in the company’s business in the period was down to Federal Reserve policy, including the taper talk that dominated most of the third quarter. That caused the company’s home loans unit to lose business. The u