ZeroHedge – Citi Pays $3.5 Billion To Keep Its Employees Out Of Jail For Yet Another Quarter – 9 December 2014

ZeroHedgeMoments after Bank of America reported at today’s Goldman financial conference that its Q4 trading revenues would be down both Q/Q and Y/Y, it was Citi’s turn to warn that the current quarter will be the latest disaster in a long series of revenue disasters, with Q4 revenue said to drop 5% from a year ago, however, despite the drop, Citi would still see a “marginally profitable” quarter. Supposedly this means that a few hundred million shares of stock will have to be repurchased to give the optics that EPS is rising even as revenues continue to drop.

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