Penny Stock Pick Report is pleased to alert investors of
stocks on the move. Sign Up for our Stock
Newsletter
Citigroup (NYSE: C) detailed net income of $4.3 billion
for the second quarter of 2009, or $0.49 per share. These results include an
$11.1 billionpre-tax ($6.7 billion after-tax) gain associated with the Morgan
Stanley Smith Barney transaction that closed on June 1, 2009 Citigroup revenues
($30 billion) increased by $12.4 billion
from prior year levels primarily as it should be to the Smith Barney gain on
sale. Meanwhile, Company revenues of
$15 billion mark an 11% decline from the year before attributed to movements in
the foreign exchange sector.
Citicorp’s
regional consumer banking unit saw revenue declines across all regions. The fall of revenues in the institutional
client group’s securities and banking division had a lesser effect as
transaction services were comparable to last years figures. The local consumer lending and special asset
pool units reported decreases. Citi Holdings’ brokerage and asset management
group posted revenues of $12.3 billion, an increase of $2.5 billion from last
year. The company also reported
operating expenses of $12 billion, a decrease of 21% from last years same
reporting period.
We have
made significant progress in recent quarters as evidenced in the significant
decline in expenses, headcount, assets, including Citi’s riskiest assets, as
well as our 12.7% Tier 1 capital 1 ratio,” CEO Vikram Pandit recently stated. He
went on to say. “We have already announced the sale of a number of
businesses within Citi Holdings, and its assets have been reduced by
approximately $250 billion since the first quarter of 2008.”
Sign Up for Penny Stock Pick Report’s Free Small Cap Newsletter. To
subscribe please enter your email address in the frame at the bottom of this
page or visit us at our website.
Subscribe at the bottom of this page.
About Us
Penny Stock
Pick Report is a leading stock web site that provides free stock alerts on stocks that are poised
to make big gains. We also track small cap companies that could be on the brink
of a massive breakout. To feature a company on our web site please contact us
at the email listed below.
Penny Stock
Pick Report is an independent electronic publication that provides information
on selected publicly traded companies. This publication is not a registered
investment advisor or broker-dealer. Our affiliates, officers, directors and
employees may buy and sell additional shares in any company mentioned herein
and may profit in the event those shares rise in value. Please do your own Due
Diligence before investing in any of the stocks mentioned above. View our full disclaimer.
