Citigroup (C) Tops Q3 EPS by 4c
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Citigroup profit soars as lower costs trump revenue fall
October 15, 2015 8:06 AM EDTBy David Henry and Sweta Singh
(Reuters) - Citigroup Inc (NYSE: C) reported a 51 percent jump in quarterly profit as lower costs more than made up for a fall in revenue amid increased market volatility and uncertainty about the timing of a U.S. interest rate hike.
Legal and related costs of the No.3 U.S. bank by assets nosedived from a year earlier, with the lender putting most of the problems stemming from the financial crisis behind it.
Operating expenses fell 18 percent as Chief Executive Michael Corbat works through... More
Wall Street jumps to eight-week high on financials, healthcare
October 15, 2015 7:17 AM EDTBy Caroline Valetkevitch
(Reuters) - A tame inflation reading and strong earnings from Citigroup led investors to pile back into stocks on Thursday, pushing Wall Street to its best level in eight weeks.
Equities added to gains late in the session, and eight of the S&P 500 sectors registered increases of more than 1 percent. More than four stocks rose for every one that fell on both the New York Stock Exchange and the Nasdaq.
The S&P 500 health care index jumped 2.2 percent despite a disappointing forecast from HCA Holdings (NYSE: HCA),... More
