Citigroup tops Street 3Q forecasts

Associated Press |

NEW YORK (AP) _ Citigroup Inc. (C) on Thursday reported third-quarter earnings of $4.13 billion.

The New York-based bank said it had earnings of $1.42 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.



The U.S. bank posted revenue of $22.55 billion in the period. Its adjusted revenue was $18.17 billion, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $17.71 billion.

Citigroup shares have risen 26 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 14 percent. The stock has increased 53 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on C at https://www.zacks.com/ap/C

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