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Citigroup's Q3 figures beat expectations

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Miguel A. Rodriguez
Miguel A. Rodriguez
13 Octombrie 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

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Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

Miguel a lucrat pentru instituții financiare importante, precum Banco Santander și Banco Central-Hispano. De asemenea, a publicat cărți despre Forex.