Citigroup: 3Q Earnings Snapshot
Posted Oct 15, 2019 09:17:10 AM.
This article is more than 5 years old.
NEW YORK (AP) _ Citigroup Inc. (C) on Tuesday reported third-quarter earnings of $4.91 billion.
The New York-based bank said it had earnings of $2.07 per share. Earnings, adjusted for non-recurring gains, came to $1.98 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.96 per share.
The U.S. bank posted revenue of $26.11 billion in the period. Its revenue net of interest expense was $18.57 billion, falling short of Street forecasts. Three analysts surveyed by Zacks expected $18.6 billion.
Citigroup shares have increased 35% since the beginning of the year, while the Standard & Poor’s 500 index has risen 18%. The stock has climbed nearly 1% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on C at https://www.zacks.com/ap/C
The Associated Press
