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Citigroup's Mixed Results Prompt Muddled Reaction in Its Shares
Citigroup investors may need more information before calling the earnings beat a buying opportunity.
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The banking giant reported earnings per share of $1.87, besting estimates set at $1.80 per share, and posted revenue that came nearly in line with the FactSet consensus.
Despite the largely positive headline results, the stock slid on the initial release before building back up to a flat open on Monday.
...
Citigroup's net in the first quarter increased about 2%, but that largely was driven by a lower effective tax rate, which was reported at 21% in the current quarter compared to 24% in the first quarter of 2018. In addition, revenues decreased 2% year over year; the decline was blamed on lower revenues in equity markets, losses in the institutional clients group and the wind-down of legacy assets.
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https://realmoney.thestreet.com/investin...yptr=yahoo
![[Bild: Cc1dl1548.png]](https://finviz.com/publish/041519/Cc1dl1548.png)
Citigroup investors may need more information before calling the earnings beat a buying opportunity.
...
The banking giant reported earnings per share of $1.87, besting estimates set at $1.80 per share, and posted revenue that came nearly in line with the FactSet consensus.
Despite the largely positive headline results, the stock slid on the initial release before building back up to a flat open on Monday.
...
Citigroup's net in the first quarter increased about 2%, but that largely was driven by a lower effective tax rate, which was reported at 21% in the current quarter compared to 24% in the first quarter of 2018. In addition, revenues decreased 2% year over year; the decline was blamed on lower revenues in equity markets, losses in the institutional clients group and the wind-down of legacy assets.
...
https://realmoney.thestreet.com/investin...yptr=yahoo
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