WHOOPS: Citigroup Earnings Come In Weak, And Its Stock Is Sliding Pre-Market

Vikram Pandit 2

The number is out: EPS of $.04 is below analyst estimates.

Revenue of just over $19 billion is also weak.

The stock is off about 2% in the pre-market.

We’re still learning more.

The full announcement can be found here.

A few other notes from the release:

  • Citigroup provisions for credit losses and for benefits and claims declined $25.7 billion, or 50%, to $26.0 billion.
  • Citigroup expenses were $47.4 billion, down $447 million, or 1%, from 2009.

Click here fore more updates.


Background: Analysts are expecting EPS of $0.08 on $20.45 revenue.

On Friday JPMorgan reported very strong earnings, and generally speaking financials have been big leaders all year (and for the late innings of last year).

Citigroup has taken among the longest of any bank to return to profitability, and at this point it’s still on pace for a 2010 loss.

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