Citigroup’s first-quarter profit tumbles 46% as bank sets aside more money for loan losses

Michael Corbat, CEO of Citigroup at the 2018 WEF in Davos, Switzerland.

Adam Galica | CNBC

Citigroup reported first-quarter earnings on Wednesday. Here’s how the company did:

• Earnings: $1.05 per share vs $1.87 per share in the year-earlier period
• Revenue: $20.7 billion, up 12% from the previous year
• Net income: $2.52 billion, down 46% from the prior year
• Loan loss reserves: up $4.9…

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