Article Hero

Citigroup's Q3 figures beat expectations

1602595907.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
13 octubre 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!

Sources: marketwatch.com, markets.businessinsider.com

disclaimers_articles

article_share_title

article_rating_title

awful
ok
great
awesome

read_more

Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.