NEW YORK (TheStreet) -- Shares of Citigroup (C) - Get Report are falling by 3.98% to $45.10 at the start of trading on Friday morning, after company CEO Mike Corbat suggested the financial services company's second quarter net income will drop by 25% when compared to last year.

Corbat was speaking at an investor conference in New York and noted that second quarter net income will be about flat when compared to the first quarter of the year, Reuters reports. The company reported profits of $3.5 billion for the first quarter.

The bank will release its second quarter results on Friday, July 15.

Citigroup has been struggling with long-term decline in capital markets revenue and higher costs to comply with regulation, Reuters added. The company has been reducing staff and office space as well as boosting its credit card business.

(Citigroup is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of Jim's holdings with a free trial.)

Separately, TheStreet Ratings has set a "hold" rating and a score of C+ on Citigroup stock. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.

The company's strengths can be seen in multiple areas, such as its attractive valuation levels, expanding profit margins and notable return on equity. However, as a counter to these strengths, TheStreet Ratings also finds weaknesses including unimpressive growth in net income, weak operating cash flow and a generally disappointing performance in the stock itself.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: C

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