, Columnist
Citigroup Hasn't Played Its (Credit) Cards Right
A renewed push into the business isn't paying off.
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Citigroup Inc.'s big bet on the credit-card business has been a bust so far. Thankfully for shareholders, the bank has been on a roll otherwise lately.
Citi said Thursday morning that earnings per share rose nearly 15 percent to $1.42, which was better than the $1.31 analysts were expecting. The bank's revenue of $18.2 billion also exceeded expectations, though without a one-time sale it would have been down from a year earlier.