Citi’s Profit Drops Less Than Expected

Citi’s Profit Drops Less Than Expected; Revenue Down 11%

Despite 27% drop in its bottom line, bank still beats analysts’ estimates

Citigroup Inc. said Friday that first-quarter profit fell 27% as two of its biggest growth areas, stock trading and credit cards, couldn’t help it weather a weak market environment.
The New York-based lender and securities firm reported a profit of $3.5 billion, or $1.10 per share. Like other bank results reported this week, Citigroup’s fell short of the 2015 first quarter, when the bank run by CEO Michael Corbat earned $4.77...

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