Citigroups Adjusted Earnings Top Expectations. But the Stock Is Falling. – Barrons

Citigroup stock was falling Friday after the bank posted a mixed bag of fourth-quarter earnings.

Citigroup (ticker: C) reported net income of $3.2 billion, a whopping 26% drop from year-ago numbers. The bank blamed the increase in expenses, which rose 18% to $13.5 billion in the quarter, for the decline.

But adjusted earnings of $1.99 a share…

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