Citigroup tops earnings estimates, revenue misses
Wall Street Journal Assistant Editorial Page Editor James Freeman on the history of Citigroup.
Citigroup reported a third-quarter profit of $1.73 per share topping the estimate for $1.69. Revenue came in at $18.39 billion. The estimate was for $18.5 billion.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| C | CITIGROUP INC. | 61.33 | -0.92 | -1.49% |
The bank earned a profit of $4.13 billion, or $1.42 per share in the year ago quarter on revenue of $18.17 billion.
In the second-quarter of this year, Citigroup earned $1.63 per share as lower taxes boosted the bank’s revenue, which offset the higher cost of credit. Revenue came in at $18.46 billion.