Published:
Citigroup missed fourth-quarter earnings expectations, but shares rose in early Wednesday trading as investors appeared to give the money-center bank a pass because the earnings miss was due to a large loss related to its plan to sell assets in Russia.
Citi’s
C results follow earnings reported earlier in the session by fellow banking giants Bank of America BAC, which beat expectations, and Wells Fargo WFC, which missed, and on Tuesday by sector leader JPMorgan Chase JPM, which also disappointed investors.