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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Citigroup Reports 26% Increase In Quarterly Profit 0 comments
    Jul 15, 2013 10:50 AM | about stocks: C

    Originally published at www.seclive.com

    Citigroup (NYSE:C) has announced its financial results for second quarter fiscal 2013, reporting a 26% increase in adjusted net profits of $3.89B, up from $3.08B this quarter last year. Citigroup's earnings per share exceeded analyst predictions of $1.18 earnings per share by reporting $1.25 earnings per share. The company attributes the substantial profit difference between this year and last year to more stability on existing home mortgages, with stronger house prices offsetting the rise in rates banks face when selling home loans. Citigroup saw an 18% rise in fixed income market revenue to $3.37B, with equity market revenue increasing 68% to $942M. Citi CEO Michael Corbat remarked simply that the company is focused on delivering consistent and quality earnings.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: C
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