New York • Citigroup's fourth-quarter profit fell short of analysts' expectations as its bond and mortgage businesses weakened.
The bank said Thursday it earned $2.60 billion, after stripping out the effects of an accounting charge. Per share, that amounted to 82 cents, falling short of the 95 cents that analysts expected.
Citi's stock fell nearly 4 percent in late morning trading.
Revenue, excluding adjustments, slipped 2 percent to $17.9 billion, short of the $18.2 billion Wall Street predicted.
"Although we didn't finish the year as strongly as we would have liked, we made substantial progress toward our key priorities in 2013," said Michael Corbat, Citigroup's CEO said in a statement.