Cit­i­group profit rises to $4.6 bil­lion, beats Street views

The Guardian (Charlottetown) - - BUSINESS -

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.

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