Citigroup Profit Declines, Still Tops Wall Street’s Expectations

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Citigroup Profit Declines, Still Tops Wall Street’s Expectations

Citi reported third-quarter net per stock of $1.51, beating analysts’ estimates of $1.31. Net income declined to $3.2 cardinal from a twelvemonth ago; analysts polled by FactSet had forecast $2.55 billion.

Citi, the fourth-largest lender successful the U.S. by assets, reported $20.3 cardinal successful revenue, topping analysts’ expectations of $19.86 billion. It reported nett involvement income, a cardinal gross driver, of $13.36 billion, little than the $13.57 cardinal that was expected.

Citi banal roseate 2% successful premarket trading connected Tuesday. Shares of Citi person gained 24% this year, successful enactment with the S&P 500 and the KBW Nasdaq Bank Index’s rise.

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