Citigroup Beats Third-Quarter Profit Estimates
Citigroup reported third-quarter profit that surpassed Wall Street estimates, driven by stronger investment banking and wealth management revenue. The bank posted a profit of $2.85 per share, exceeding analyst expectations despite a decline in trading revenue.
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CITIGROUP INC posted a third-quarter profit of $5.25 billion, or $2.85 per share, topping analyst expectations of $2.66 per share. The result was bolstered by a 9% increase in investment banking revenue and strong transaction growth across multinational corporate clients.
