Citigroup (NYSE:C) posted net income for the third quarter 2013 of $3.2 billion, or $1.00 per diluted share, on revenues of $17.9 billion. Excluding CVA/DVA and the tax benefit in both periods, as well as the third quarter 2012 MSSB loss, Citigroup net income of $3.3 billion was roughly flat compared to the prior year period, as lower operating expenses and lower credit costs were offset by the decline in revenues and a higher tax rate. Earnings missed analyst expectations, and Citigroup shares are off about 0.25% in early trading.
The Coca-Cola Company (NYSE:KO) reported that third quarter EPS was $0.54, up 8%, and comparable EPS was $0.53, up 4%, despite an approximate 5% currency headwind. Year-to-date reported EPS was $1.52, down 2%, and comparable EPS was $1.62, up 4%, despite two fewer selling days in the first nine months of 2013 and an
approximate 4% currency headwind. Earnings were in-line with analyst expectations and in early trading KO is up about 1%.
Johnson & Johnson (NYSE:JNJ) posted sales of $17.6 billion for the third quarter of 2013, an increase of 3.1% as compared to the third quarter of 2012. Excluding special items, net earnings for the current quarter were $3.9 billion and diluted earnings per share were $1.36, representing increases of 11.3% and 8.8%, respectively, as compared to the same period in 2012. Earnings were better than expected, and the stock is up about 1% so far this morning.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.