NEW YORK (AP) — NEW YORK (AP) — Citigroup Inc. (C) on Friday reported third-quarter earnings of $3.55 billion.
The bank, based in New York, said it had earnings of $1.63 per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, were $1.52 per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The U.S. bank posted revenue of $41.15 billion in the period. Its revenue net of interest expense was $20.14 billion, also beating Street forecasts. Twelve analysts surveyed by Zacks expected $19.32 billion.
Citigroup shares have fallen 8% since the beginning of the year, while the S&P's 500 index has climbed 13%. The stock has risen roughly 2% in the last 12 months.
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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