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Friday, November 20, 2009
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Citigroup, Wachovia book stellar quarters
New York-based Citigroup reported earnings per share of $1.24 during the second quarter, an 18% increase from the same period in 2006.
International revenue helped boost overall revenue growth by 20%, hitting a record of $26.6 billion during the quarter. Wachovia Corp. of Charlotte, N.C. said its EPS jumped 4% to $1.22. Earnings hit a record of $2.34 billion, up from last year’s $1.88 billion. The company’s corporate and investment bank segment reported the most in earnings growth out of all four businesses. Advising and underwriting fees boosted earnings to $599 million from $503 million in 2006.
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