peuterey sito ufficiale Results Corner Citigroup

Results Corner: Citigroup Misses Estimates:

Citigroup, The giant banking group of USA [url=http://www.shewyne.com/peutereyoutlet.html]peuterey sito ufficiale[/url] has reported its fourth quarter earnings and it has missed its earnings that was estimated or expected by a big margin. One of the executive of the company said that with such misses in the earnings of Citigroup, it seems like the news of recovery of US housing market was too early to say.

It has not yet fully recovered; still the market analysts are making high earning projections [url=http://www.mnfruit.com/airjordan.php]jordan[/url] from the [url=http://www.jeremyparendt.com/jimmy-choo.php]jimmy choo paris[/url] companies in the fourth quarter earnings season.

On Thursday, the fourth quarter profit of this bank came up to the scale of 1.2 billion. The stocks rose by around 38 cents per share. The final margins of profit are too far below the average estimate that was predicted by the market analysts. Market analysts are disappointed by this profit figure by the company.

Some of the market analysts forecasted that in the fourth quarter earnings season, the EPS of Citigroup bank can rise up to 96 cents per share. Where the expectation for the revenue was at the scale of 18.8 billion, there the amount of collected revenue was 18.2 billion. Still it is low from what was expected.

All these graphs do not mean that there was no progress in the earnings of the bank. There are definitely improvements in the profit from what it was in last year. Where last year net profit was $956 million, this year the [url=http://www.jeremyparendt.com/Hollister-b5.php]hollister[/url] scale was raised to $1.2 billion. Where in last year the price was 31 cents per share, this year it was raised up to 38 cents.

The matter of concern is that the giant banking company could not meet the margin for which it was expected for. If such a huge company have such a setback in the profits in share market [url=http://www.osterblade.com]moncler sito ufficiale[/url] at the fourth quarter season, then it concerns other over the issue that US housing market has not fully recovered yet.

According to the Citigroup management, this downfall in the earnings was due to the legal expenses which the banking company has to make on 2012. The expenses made on legal [url=http://www.lcdmo.com/hollister.php]hollister pas cher[/url] & legal related expenses were much more than what was expected to be spent. The amount of spending on legal issues stood on $1.3 billion on 2012, which caused a huge downfall in the profit of this banking group.

With such downfall in the earnings, the Citigroup is also restricting its loan reserve for the bad credit owners. Where for the bad credit borrowers, they used to keep a $1.5 billion reserves; now they have only released $86 million of amount as [url=http://www.rtnagel.com/airjordan.php]jordan pas cher[/url] reserve for the bad credit lenders. Such a sum of loan reserve is smaller than what is expected by the market analysts.

Also the total loan reserve is also going to get a shrink. The total loan reserve is now standing [url=http://www.shewyne.com/hoganoutlet.html]hogan sito ufficiale[/url] on the scale of $25.5 billion at the beginning of 2013. Such a conservative move over making the loan reserves shows that the Citigroup is also being conscious about the recovery of US housing markets.

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