Citigroup (C) reported second-quarter net income of $2.92 billion, a decline of 36% from a year ago. Earnings per share was $1.33 compared to $2.19. Excluding divestiture-related impacts, earnings per share was $1.37 compared to $2.17. The company said the decline was primarily driven by higher expenses, higher cost of credit and lower revenues.
Analysts on average had expected the company to earn $1.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
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