CITI REPORTS PROFIT

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STORY: CITI REPORTS PROFIT DATELINE: Jan. 19, 2011 LENGTH: 0:01:12 LOCATION: New York PKG Intro: Wall Street giant Citigroup posts earnings for last year, somehow indicating that the Wall Street financial climate is getting warmer than before. Economy Report takes you there for the details. Pkg: Citigroup posted quarterly profits of 1.3 billion US dollar on Tuesday for the fourth quarter 2010, bringing its earnings last year to 10.6 billion dollars. This is the first time for Citi posting profits since 2007 . However, gains are still lower than expected, as Citi shares falls below 5 dollars per share from 5.15 dollars on Friday. The reported earnings are translated into 4 cents per share, lower than, financial analysts' expectation of 6 to 8 cents per share. Citigroup CEO Vikram Pandit is still confident. He says that the bank has reached its goals for 2010 and shows earnings after two years of massive losses. The bank reports 30.8 billion dollars in credit losses in 2010, a Powered by www.newslook.com Producer : Xinhua News Agency

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