On May 7, 2024, the Citibank Building in Canada Place, the center of London’s Canary Wharf financial district.
Mike Camp | In Pictures | Getty Images
Citigroup Third-quarter earnings, reported before the bell on Tuesday, beat Wall Street expectations, with gains in the investment banking and wealth management businesses.
Here’s how the company’s report compared with expectations from Wall Street analysts surveyed by London Stock Exchange Group:
- Earnings per share: $1.51, $1.31 expected
- Revenue: $20.32 billion, $19.84 billion expected
Citigroup CEO Jane Fraser took over in March 2021 and worked to streamline banking operations during her tenure. This includes reductions in Citigroup’s global operations and layoffs.
Investment banking and stock trading were two highlights of the bank’s second-quarter earnings report released in July.
As of Monday, Citigroup shares were up more than 28% year to date, outperforming the S&P 500 and financial stocks.
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