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Citigroup Inc.
Citi Reports Fourth Quarter Net Loss of $8.29 Billion, Loss Per Share of $1.72
January 31st, 2009
Citigroup Inc. (NYSE: C) reported a net loss for the 2008 fourth quarter of $8.29 billion, or $1.72 per share, based on 5,347 million shares outstanding. Revenues of $5.6 billion were affected by write-downs and losses in Securities and Banking. Results also include $6.1 billion in net credit losses and a $6.0 billion net loan loss reserve build. For the full year 2008, Citigroup reported a net loss of $18.72 billion, or $3.88 per share. See Schedule C for full year business segment results. Key Items Results reflect the negative impact from $7.8 billion in revenue marks in Securities and Banking, a $5.3 billion downward credit value adjustment on derivative positions,...
Source: Law & Health Weekly (2009-01-31)
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