Citigroup Falls To Loss In Q4 - Quick Facts

(RTTNews) - Citigroup Inc. (C) reported a net loss for the 2007 fourth quarter of $9.83 billion, or $1.99 per share, compared to a profit of $5.13 billion or $1.03 per share in the same quarter last year. On average, 18 analysts polled by First Call/Thomson Financial expected a loss of $1 per share for the current fourth quarter.

The current quarter results include $18.1 billion in pre-ax write-downs and credit costs on sub-prime related direct exposures in fixed income markets, and a $4.1 billion increase in credit costs in U.S. consumer primarily related to higher current and estimated losses on consumer loans.

Revenues were $7.2 billion, down 70% from $23.83 billion, driven by significant write-downs on sub-prime related direct exposures in fixed income markets. Five Wall Street analysts' consensus revenue estimate came in at $10.64 billion.

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