(Bloomberg) -- Citigroup, the third-biggest U.S. bank, said second-quarter profit tumbled 96% on $3.7 billion in costs tied to a mortgage-bond settlement with U.S. authorities.
Net income fell to $181 million, or 3 cents a share, from $4.18 billion, or $1.34, a year earlier, the New York-based company said today in a statement. Excluding special items, profit was $1.24 a share. The average estimate of 25 analysts surveyed by Bloomberg was $1.05.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access