Traders work at the post that trades Citigroup stocks on the floor of the New York Stock Exchange (file). Citigroup yesterday reported a stronger-than-expected 26% rise in adjusted quarterly profit as stronger home prices reduced losses on mortgages, and trading revenue rebounded. Net income came in at $4.2bn on revenues of $20.5bn in the second quarter, an increase of 26.2% from $2.9bn on revenues of $18.4bn in the year-ago period. Excluding the effects of a prior-year asset sale and some debt cost effects, Citi reported earnings of $1.25 per share, solidly topping analyst expectations of $1.18.
