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Citigroup beat profit expectations with a 16% rise, driven by strong banking and trading results.
Citigroup posted a 16% rise in third-quarter profit to $3.75 billion, or $1.86 per share, beating expectations, as all five business units reported record revenue.
Strong investment banking, trading, and corporate lending drove a 9% year-over-year revenue increase to $22.09 billion, with markets revenue up 15% and banking revenue surging 34%.
The results included a $726 million goodwill charge tied to the planned sale of a 25% stake in Banamex, which faced an unsolicited $9.3 billion bid.
Adjusted earnings per share were $2.24, well above the $1.90 forecast.
CEO Jane Fraser cited successful restructuring and improved efficiency, with return on tangible common equity at 8% for the quarter.
The bank’s shares rose 1% ahead of market open, marking a 36.5% gain in 2025.
Citigroup superó las expectativas de ganancias con un aumento del 16%, impulsado por los sólidos resultados bancarios y comerciales.