Citigroup Stock Hits 6-Year High As Cost Cuts Lift Q2

Belt tightening was key in the second quarter for Citigroup (C), which cut down on lawyer bills and repositioned costs to boost its results. The New York-based bank's net income was $4.85 billion in Q2, or $1.51 a share, compared with the three cents a share a year earlier. Excluding items, the bank earned $1.45 a share, beating views of $1.34. Revenue fell 1.1% on an adjusted basis to $19.2 billion, beating the consensus estimate of $19.1

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