Citigroup revises earnings lower after losing Revlon case

Citigroup Inc said on Friday it recorded an additional $390 million in operating expenses in the 2020 fourth quarter after a federal judge ruled that it was not entitled to recoup the money it mistakenly wired to lenders of Revlon Inc last year.

As a result, Citigroup revised its fourth-quarter earnings to $1.92 per share down from $2.08, according to a filing.

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