Citigroup profits fall 36%

Earnings fell 36% to $2.92 billion, or $1.33 per share. Analysts were expecting $1.31.

Revenue fell 1% to $19.44 billion. Analysts expected $19.34 billion.

In the institutional client group, which includes investment banking and trading, revenue fell 9% to $10.44 billion.

Trading revenue fell 13%, with fixed income down 13% and equities down 10%.

In investment banking, which includes merger costs and the sale of corporate stocks and debt, revenue fell 24% to $612 million.

Its business of financing large corporations around the world and helping them move money continued to benefit from rising interest rates and money flows, with revenue up 15% at $3.5 billion.

In the consumer banking and wealth management unit, revenue rose 6% to $6.4 billion.

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