Citi Earnings Highlights Massive Discount to Book Value (C)

Banking, finance, and taxes

Published: April 16, 2012 8:32 am

Last Updated: April 27, 2020 7:05 pm

Citigroup, Inc. (NYSE: C) has reported that the bank made a profit of $2.93 billion in the first quarter. Outside of special items the bank’s earnings came to $1.11 in earnings per share. The bank’s revenue in the quarter was $19.4 billion, but outside of items the report would have been up about 1% to $20.2 billion. Thomson Reuters had estimates of $1.00 in earnings per share and its consensus revenue target was $19.8 billion.

The bank’s Tier-1 common equity ratio was 12.4% and its Tier-1 capital ratio was 12.4%.

Citigroup reported that its book value was $61.90 on the stated value methodology and its tangible book value was $50.90 at the end of March. Shares are currently trading up about 1.5% at $33.95 in active trading in the pre-market session.

JON C. OGG

In 20 Years, I Haven’t Seen A Cash Back Card This Good

After two decades of reviewing financial products I haven’t seen anything like this. Credit card companies are at war, handing out free rewards and benefits to win the best customers.

A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.

Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.