Citigroup Q3 Earnings Miss Estimates

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Oct. 15 (Bloomberg) -- Citigroup reported a $3.23 billion profit that missed analysts’ estimates. Scarlet Fu reports on Bloomberg Television's "In The Loop." (Source: Bloomberg)

The day.

Watch out, stocks look expensive now.

It means we have to get out.

Let's get straight to scarlet fu.

The numbers on citigroup coming out just loans ago.

The start with affect citigroup shares are trading lower in the premarket following the earnings result.

We have adjusted earnings for the share at one dollar two cents.

The was two cents shy as a that was rock -- that was brought down a bit and we are seeing citigroup ms.

-- citigroup ms.

On already lowered estimate.

The top light is confusing.

-- topline is confusing.

$18.2 billion when you back out that accounting adjustment.

Analysts were looking for 18.7 one billion on average.

-- for $18.71 billion on average.

This division made up 1/5 of revenue last year.

In this quarter, the third quarter, revenue from fixed income currencies and commodities fell 20% from the same time last year and 17% from the second quarter.

Questions and concerns over the federal reserve tapering its easing is holding back on volume.

It was higher by 36% versus the same time last year.

Mortgage lending also suffered.

The ceos said we have performed well into a challenging macro environment.

He said most of the influences that are revenue he cannot control.

11.7 billion dollars, down four percent from what it locked in the second quarter, so citigroup is making some caught -- making some progress in cutting down its costs.

It made up six percent of the balance sheet.

City continues to make progress on streamlining that division and shrinking it down.

Thank you so much, scarlet fu on the citigroup results.

We will stock -- we will track that trade in the premarket.

This text has been automatically generated. It may not be 100% accurate.


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