Citigroup Earnings Fall on Higher Credit Allowance, but It Beats Estimates

Citigroup Earnings Fall on Higher Credit Allowance, but It Beats Estimates

Earnings per share fell 74% to $0.50. Despite the precipitous drop, the bank beat analysts' estimates with higher-than-expected trading revenue. The revenue gains came primarily from the institutional clients group, which jumped 21% to $12.1 billion.