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Published on Oct 14, 2016
Citigroup
reported third quarter earnings of $1.24 a share, $0.08 ahead of
estimates. Revenue of $17.76 billion beat forecasts of $17.36 billion,
but fell 4% year-over-year. The bright spot during the quarter was fixed
income, with revenue rising 35% year-over-year to $3.47 billion,
helping to lessen the impacts of a 34% drop in stock trading revenue.
Citigroup shares rose 2.4% Friday. TheStreet's Scott Gamm reports from
Wall Street.
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