Citigroup profit falls 10.5 percent, but beats expectations
Citigroup Inc (C.N), the fourth-biggest U.S. bank by assets, reported a 10.5 percent drop in quarterly profit, but beat analysts' expectations as revenue from investment banking and fixed-income trading rose.
The bank's net income fell to $3.84 billion (3.14 billion pounds), or $1.24 per share, in the third quarter ended Sept. 30 from $4.29 billion, or $1.35 per share, a year earlier.
Total adjusted revenue fell 4 percent to $17.76 billion. Analysts on average had estimated earnings of $1.16 per share and revenue of $17.36 billion, according to Thomson Reuters I/B/E/S.
Citigroup's shares... read more
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