Only on Wall Street is a $2.5 Billion Loss Good News

by

Citigroup reported its earnings (or lack thereof) today  posting a $2.5 billion second-quarter loss.

However the loss was smaller than expected and Citi is up over 10% today on the news

The nation’s biggest banking company by assets lost the equivalent of 54 cents per share in the April-June period. In the same timeframe last year, the bank earned $6.23 billion, or $1.24 per share.

About Michael Berkens

Michael Berkens, Esq. is the founder and Editor-in-Chief of TheDomains.com. Michael is also the co-founder of Worldwide Media Inc. which sold around 70K domain to Godaddy.com in December 2015 and now owns around 8K domain names . Michael was also one of the 5 Judges selected for the the Verisign 30th Anniversary .Com contest.

Comments

  2. Yaron says

    Wall St trades on rumors not on news (or on rumors and than on the news)
    If the expectations were for $3 Billion loss, than 2.5 is good news when speaking from a trading perspective.

  3. Steve M says

    “Negative earnings.”

    “Retrograde income.”

    “Inverse cash flow.”

    Still a huge, troubling loss…no matter what they call it.