NEW YORK (AP) — NEW YORK (AP) — Citigroup Inc. (C) on Tuesday reported third-quarter profit of $3.75 billion.
The company, based in New York, said it had earnings of $1.86 per share. Earnings, adjusted for asset impairment costs, were $2.24 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.
The U.S. bank posted revenue of $43.84 billion in the period. Its revenue net of interest expense was $22.09 billion, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $21.13 billion.
Citigroup shares have increased 37% since the beginning of the year, while the S&P’s 500 index has increased 13%. The stock has climbed 46% 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
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