Citigroup Inc. (NYSE: C) reported its second-quarter financial results. The bank reported second-quarter revenue of $22.1 billion. The bank’s revenue declined $3.4 billion from the first quarter of 2010. Citi reported second-quarter net income of $2.7 billion, making it a second consecutive profitable quarter for the bank. For the first six months of 2010, Citi reported net income of $7.1 billion.

All of Citi’s divisions, except the Securities and Banking division, performed well, in the second quarter of 2010. Citi’s Regional Consumer Banking division reported second-quarter revenue of $8 billion, down 1% on a sequential basis. The division saw decline in revenue in North America and Europe, Middle East and Africa (EMEA). However, these were offset by strong growth in Asia and Latin America. Going forward, Citi will be looking to leverage its strong presence in emerging markets in Asia and Latin America to grow its Regional Consumer Banking business.

Citi’s Securities and Banking revenues were down 26% on a sequential basis to $6 billion, in the second quarter of 2010. The decline was due to lower Fixed Income Markets, Equity Markets and Investment Banking revenues. The Securities and Banking division is likely to continue to see weak performance, with lower M&A activity and IPOs expected in the second half of this year.

Citi’s Transaction Services division continued to perform strongly in the second quarter of 2010. The division reported second-quarter revenue of $2.5 billion, up 3% on a sequential basis. Citi continues to focus more on the Transaction Services business and the division is expected to perform well in the second half of 2010.

All in all, Citicorp revenues, under which the Regional Consumer Banking, Securities and Banking and Transaction Services businesses fall, were $16.5 billion, down 11% from the first quarter of 2010. Citicorp consists of businesses that Citi classified as core. The bank adopted strategy of focusing more on these businesses and sell-off non-core businesses such Hedge Funds and Private Equity.

The Citigroup stock has a 52-week range of $3.11-$5.43. Since reporting the second-quarter financial results last month, the Citigroup stock declined 5.89%. Year-to-date, the stock is up 18.28%, outperforming the broader market and its peer group, which are down 3.27% and 4.54%, respectively.

Citigroup  stock is currently trading below its 50-day and above its 200-day moving averages. The stock has support level at $3.84 and a resistance level at $3.95.

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BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.

Beacon Equity Group Disclaimer

This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.