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Last updated: October 15. 2013 8:36AM - 287 Views
Associated Press



FILE - This Tuesday, Oct. 16, 2012, file photo shows the Citibank building in New York. Citigroup is expected to report quarterly earnings on Tuesday, Oct. 15, 2013. (AP Photo/Mark Lennihan, File)
FILE - This Tuesday, Oct. 16, 2012, file photo shows the Citibank building in New York. Citigroup is expected to report quarterly earnings on Tuesday, Oct. 15, 2013. (AP Photo/Mark Lennihan, File)
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(AP) Citigroup said its earnings fell slightly in the third quarter as lower expenses weren't enough to offset a drop in revenue.


Net income for the July-to-August period fell to $3.26 billion from $3.27 billion in the same period a year ago after excluding an accounting gain and other one-time items.


That amounts to $1.02 per share compared with $1.06 per share last year. Wall Street analysts who follow the stock had predicted earnings of $1.05 for the quarter, according to data provider FactSet.


Revenue fell to $18.2 billion compared with $19.2 billion a year ago. Analysts had expected $17.9 billion.


Citigroup's stock fell 65 cents, or 1 percent, to $48.95 in pre-market trading.


Associated Press
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