banks bringing in big $$$$$$$$$$$$$$$.......
THE WALL STREET JOURNAL Markets Alert
Citigroup Profit Soars on Lower Litigation Costs
Citigroup said its quarterly profit jumped as the third-largest U.S. bank by assets slashed its spending on litigation.
The New York-based bank reported a profit of $4.85 billion, or $1.51 a share. That compares with the $181 million, or 3 cents a share, it reported in the same period of 2014. After stripping out accounting adjustments, the bank earned $1.45 a share. Analysts polled by Thomson Reuters had expected earnings of $1.34 a share.
Revenue was essentially flat at $19.47 billion but fell 1.5% on an adjusted basis to $19.16 billion. But that figure still topped analysts' expectations of $19.11 billion.
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