Citigroup’s (C) quarter was as bad as advertised. The bank reported net income for the 2007 third quarter of $2.38 billion, or $0.47 per share, a decline of 57% from the prior-year quarter. Results include a $729 million pre-tax gain on the sale of Redecard shares. Return on equity was 7.4%. On October 1, 2007,
|
Citi Segment Results |
||||||||||||||||||||||
| Third Quarter Revenues |
|
Third Quarter Net Income |
|
|||||||||||||||||||
| (In Millions of Dollars, except EPS) | 2007 | 2006 |
% |
2007 | 2006 |
% |
||||||||||||||||
| Global Consumer | $ | 14,683 | $ | 12,834 | 14 | % | $ | 1,783 | $ | 3,195 | (44 | )% | ||||||||||
| Markets & Banking | 4,603 | 6,067 | (24 | ) | 446 | 1,721 | (74 | ) | ||||||||||||||
| Global Wealth Management | 3,509 | 2,486 | 41 | 489 | 399 | 23 | ||||||||||||||||
| Alternative Investments | 125 | 334 | (63 | ) | (67 | ) | 117 | NM | ||||||||||||||
| Corporate/Other | (257 | ) | (299 | ) | 14 | (273 | ) | (129 | ) | NM | ||||||||||||
| Results from Continuing Operations | $ | 22,663 | $ | 21,422 | 6 | % | $ | 2,378 | $ | 5,303 | (55 | )% | ||||||||||
| Discontinued Operations | – | 202 | NM | |||||||||||||||||||
| Total Citi | $ | 2,378 | $ | 5,505 | (57 | )% | ||||||||||||||||
| Earnings per Share from Continuing Operations | $ | 0.47 | $ | 1.06 | (56 | )% | ||||||||||||||||
| Earnings per Share | $ | 0.47 | $ | 1.10 | (57 | )% | ||||||||||||||||
| International results (1) | $ | 12,256 | $ | 9,460 | 30 | % | $ | 2,035 | $ | 2,276 | (11 | )% | ||||||||||
|
(1) International results are fully reflected in the Total Citi results above, and exclude Alternative Investments, Corporate/Other and Discontinued Operations. |
||||||||||||||||||||||
|
NM Not meaningful. Douglas A. McIntyre |
||||||||||||||||||||||
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
