Citigroup earnings rise 74 percent, to 3.8 bln

[cyberpj]

Source: Associated Press

NEW YORK (AP) -- Citigroup's earnings rose 74 percent in the third quarter, to $3.8 billion, on an accounting gain and lower losses from loans.

The New York bank earned $1.23 per share, on revenue of $20.86 billion. That's up from income of $2.2 billion during the same quarter last year.

Citi's income included a $1.9 billion accounting gain related to its credit holdings. Excluding the gain, the earnings were equivalent to 84 cents per share. Analysts surveyed by FactSet predicted Citigroup would earn 82 cents per share.

Citi's stock rose 3.5 percent to $29.44 in early trading. Citi is the nation's third-biggest bank measured by assets.



Read more: http://hosted.ap.org/dynamic/stories/U/US_EARNS_CITIGROUP?SITE=LABAT&SECTION=BUSINESS&TEMPLATE=DEFAULT&CTIME=2011-10-17-09-52-41

[gateley]

1. Gee, my earnings rose 74%, didn't yours?

:puke:

And they still want more.

[brentspeak]

2. Article forgot to mention the part about Citi raising its credit card interest rates

Usury tends to increase bank "earnings".

[Fuddnik]

3. Now, maybe they can let those people close their accounts.

[w0nderer]

8. what?

let people escape from paying more



spend the money lobbying to make it mandatory to have 2 CC's and at least 1 savings and 1 checking account
then make it illegal to pay CC's on time and illegal to maintain a high balance on the checking account


let people close their accounts and take our money into their grubby hands
hah the peons have such droll ideas

ooh...i probably want to add this
:sarcasm:

[Raschel]

14. Yeah, they should be able to afford to let 23 people close their accounts.

:puke:

[blueclown]

4. Higher than expected earnings almost entirely due to accounting gimmicks.

But I'm sure the bonuses will keep on coming, huh?

[Myrina]

5. yep, until they need to cook the books again to get another bailout ...

... or to declare a 'loss' that they can write off at tax time ...

[Roland99]

9. Citi Earnings Bloodbath $3.8 Billion ($1.23/Share) In Reported Earnings Really $0.5 Billion Or $0.16

Citi Earnings Bloodbath: $3.8 Billion ($1.23/Share) In Reported "Earnings" Really $0.5 Billion Or $0.16/Share
http://www.zerohedge.com/news/citi-earnings-bloodbath-38-billion-123share-reported-earnings-really-05-billion-or-016share

[cyberpj]

10. Wow. - The truth is never really the truth anymore, is it? Propaganda abides. nt

[Myrina]

6. Well nice, then they don't need my mortgage payment this month.

I have other bills I could use that $700 for.

[SoapBox]

7. And it is never, EVER enough for these crooks.

...bastards.

Where does it stop?

[Garion_55]

11. thank god the bankers are doing ok

otherwise who'd fund the next billion dollar election?

[ixion]

12. life is good, if you're a bankster

not so much for We, the People.

[Raschel]

15. Bankster, I like that. Replacement word for mobster.

[Dont call me Shirley]

13. Yes, the war funders are demanding payment on their loans.

[Javaman]

16. Gee, if my earnings increased by 74% I would be at the level of the cost of living. nt

[defendandprotect]

17. Break out the anti-trust laws and let's go -- Monopolies are a threat to democracy ...!!!

Always have been -- and always will be !!

[OhioChick]

18. .......