Citigroup's Earnings Good News For Bank Stocks As Trading Revenue Better Than Expected — forbes.com

It’s pretty strange that a big bank can deliver good news for the banking sector on the same day that it announces a recently-signed $7 billion agreement to resolve a government investigation into sales of mortgage securities that helped fuel the financial crisis. But Citigroup Citigroup’s second-quarter earnings release is a good omen for the big banks that have been battered this year. Citigroup’s second-quarter earnings beat expectations after adjusting for the big costs associated with its huge mortgage settlement with the federal government. Adjusted net income for Citigroup came in at $3.93 billion, or $1.24 a share, beating analyst expectations of $1.05 a share.

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