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Citigroup earnings top Street estimates as pandemic credit costs ease

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Michael Corbat, CEO, Citigroup, speaking at the World Economic Forum in Davos, Switzerland, January 21, 2020.

Adam Galica | CNBC

Citigroup on Tuesday reported better-than-expected results for the third quarter, as the company’s credit costs from the pandemic stabilized.

Citi’s share price rose 1.2% in the premarket.

Here’s how the banking giant’s results stacked up:

  • Earnings: $1.40 per share vs. 93 cents a share expected, according to Refinitiv.
  • Revenue: $17.3 billion vs. $17.2 billion expected

It was not immediately clear whether those results were directly comparable to the analysts’ estimates because Citi said that earnings figure includes a $400 million civil penalty. However, if that…



Source cnbc.com

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