Citigroup profit rises to $4.6 billion, beats Street views
NEW YORK - Citigroup Inc. says third-quarter net income rose to $4.62 billion from $4.13 billion a year ago.
The bank, based in New York, said it had earnings of $1.73 per share. Earnings, adjusted to account for discontinued operations, were $1.74 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share. Citi earned $1.42 per share a year earlier. The bank posted revenue of $24.76 billion in the period. Its revenue net of interest expense was $18.39 billion, even with a year ago. The revenue figure was slightly below Street forecasts.