Citi's net income rose 15% to $3.8 billion from a year earlier, while revenues were up 9% as every business posted record numbers.
In this article
Citigroup
posted higher third-quarter earnings on Tuesday before the bell, with every division generating record revenue.
Here’s what the bank reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Shares of the bank climbed about 1% in premarket trading Tuesday following the results.
Citigroup reported its best quarterly revenue in a decade and a 56% year-over-year jump in earnings per share.
Under CEO Jane Fraser, Citigroup is in the midst of a restructuring, selling off parts of its overseas operations.
Bank of America is likely to have benefited from the Wall Street side of its operations during the third quarter.
JPMorgan's new price target implies that shares of Citigroup could rise 11% from here.
Wells Fargo analyst Mike Mayo is bullish on Citi after the bank demonstrated strong top-line growth in its earnings report this…
Shares have advanced nearly 19% so far this week alone. The firm's second-quarter earnings and revenue surpassed analyst…
