Citigroup's Q3 figures beat expectations

By: Miguel A. Rodriguez

16:37, 13 October 2020

The group showed resilience during Q3

The new earnings season started, and at least for a company, the results are promising.

Citigroup – one of the largest American banks, reported #Q3 profit and revenue that came above expectations.

The bank's net income figures came in at $3.2 billion, or $1.40 per share, beating the 90 cents consensus. Total revenue numbers were of $17.30 billion. The market was looking for $17.21 billion.

However, the global consumer banking revenue came below the $7.23 billion, reporting a fall of 13%.

Citibank's substantial numbers show the financial sector's strength, which appears to shake off the #pandemic's effects.

After the report, before regular trading hours, Citigroup stock price gained 2%. Year-to-date, it lost 42.6%, while USA500 gained 9.4%.

Read all about the latest scandal that involved Citigroup here!


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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.