Citigroup Fourth Quarter Net Loss at $8.29 Billion, Loss Per Share of $1.72

New York, NY, January 16, 2009 - Citigroup Inc. (NYSE: C) today reported a net loss for the 2008 fourth quarter of $8.29 billion, or $1.72 per share, based on 5,347 million shares outstanding. Revenues of $5.6 billion were affected by write-downs and losses in Securities and Banking. Results also include $6.1 billion in net credit losses and a $6.0 billion net loan loss reserve build.

The Full Year 2008 Revenues was at $52.8 Billion, Net Loss of $18.72 Billion. For the full year 2008, Citigroup reported a net loss of $18.72 billion, or $3.88 per share.

Citigroup has reported Net Loss from Continuing Operations of $12.14 Billion, Loss Per Share of $2.44.

The Loss was Primarily Due to Write-Downs and Losses in Securities and Banking, Higher Credit Losses, Additions to Loan Loss Reserves, and Restructuring Costs Related To Headcount Reductions.

Source : Equity Bulls

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