Algorithm Indicates Citigroup Will Be A Buying Opportunity, But Not Yet

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Citigroup delivered a better than expected earnings report however, the bank still has issues that need to be addressed. The algorithm indicates that Citi will be an investment opportunity but the best time to become invested will be in the upcoming months.

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Algorithm Indicates

Citigroup Will Be A Buying Opportunity, But Not Yet

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"Despite a quarter that was difficult for our company, we delivered strong results.."

Michael CorbatCEO

Better Than Expected Earnings Report

4% higher adjusted net income with $4.2 billion in the first quarter of 2014

Net income stood at $1.23 per share, exceeding analysts' expectations of $1.14 per share

Adjusted expenses fell 1% year-over-year to $12.2 billion

Better Than Expected Earnings Report

There was a considerable decline in net credit losses, where cost of credit dropped from $2.5 billion to $2 billion

Adjusted revenues slid from $20.6 billion to $20.1 billion.

By reducing cost of credit and declining expenses even with lower revenues, Citigroup's income from continuing operations before taxes rose from $5.5 billion to $6 billion, an increase of 9%

Citigroup was a Top Aggressive Stock Pick

Last Year

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