17.10.2016 - We forecast a drop in prices of Citigroup
The Citigroup published a report, according to which the profit was 3.84 billion dollars or 1.24 dollars per share, compared with 4.29 billion dollars or 1.35 dollars per share. It should be noted that this figure was better than the forecast of 1.16 dollars per share. At the same time, revenues decreased to 17.76 billion dollars compared to 18.69 billion in the same period of the previous year. Despite the fact that the financial results exceeded forecasts, as well as reducing the company's expenses by 2% to 10.4 billion dollars, we maintain a medium-term negative outlook with the potential of reduction by 15-20% in the medium term.