Citigroup: Q3 beats expectations

(CercleFinance.com) - Citigroup's Q3 results included net income that is up 12% at 4.
6 billion dollars, or EPS of 1.73 dollars, six cents higher than the consensus.

This growth reflects decreases in the effective tax rate, as well as in expenditure and the cost of credit, while the bank's revenues remained stable at 18.4 billion dollars (+4% excluding gains on sales and FX factors).

CEO Michael Corbat said that the group is firmly on track to meet its financial targets for the year, while continuing to make targeted investments that will fund future growth.


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