Citigroup (C): Q1 EPS of $0.95 misses by $0.05. Revenue of $19.4B (-2% Y/Y) in-line
Citigroup (C): Earnings were $1.11/share without negative DVA of $1.3B in Q1 (better financial conditions bring spreads down, causing negative DVA). Allowance for loan loss reserves is $29B (4.5% of all loans) vs. $36.6B (5.8% of loans) one year ago. Tangible BV/share of $50.90 is up 9% Y/Y. Shares +0.8% premarket.
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