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published in Blogs
Oct 17, 2022
Citi (C, $43.30) beats Q3 earnings expectations

Citi (C, $43.30) beats Q3 earnings expectations

Citigroup’s revenue rose +6% from the year ago quarter to $18.51 billion, beating analysts’ expectations of $18.25 billion.

The bank’s adjusted earnings came in at  $1.50 per share, exceeding analysts’ expectations of $1.42 per share (according to Refinitiv poll).

Revenues from Citi’s fixed income segment came in at $3.06 billion, missing analysts’ expectations of $3.19 billion.  Equities revenue was $1.01 billion, vs.  $965 million expected by analysts (according to StreetAccount).

Personal banking revenue were up +10% from the year-ago quarter to $4.33 billion, amidst net interest income growth in a rising  interest rates environment.

Citi, like several of its peers, reported a decrease investment banking revenue, with the latter being more than -60% lower from the year-ago quarter to $631 million.

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