Citigroup’s Revenue Falls As It Preps For Potential Mortgage Losses
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Preparations for potential unhealthy loans in a recession pushed Citigroup second quarter revenue down 27%, offsetting a growth in enterprise from international corporations making an attempt to place themselves for rising interest rates.
The financial institution on Friday reported a revenue of $4.55 billion, or $2.19 per share, in contrast with $6.19 billion, or $2.85 a share, a 12 months earlier. That beat the $1.68 per share anticipated by analysts polled by FactSet.
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