Citigroup Stock Falls on Report That 2nd Qtr Results Could Drop

Shares of Citigroup fell Friday after company CEO Mike Corbat suggested Citi's second quarter net income will drop by 25 percent when it reports results in mid-July.
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Shares of Citigroup (C) - Get Report fell Friday after company CEO Mike Corbat suggested Citi's second quarter net income will drop by 25 percent when it reports results in mid-July. Corbat was speaking at an investor conference in New York and said second quarter net income will be about flat when compared to the first quarter, according to Reuters.  Citigroup has been struggling with a long term decline in revenue in its capital markets business as well as higher costs for comply with various regulation.