Citigroup Tops Q3 Estimates Thanks to Spike in Fixed Income Revenue
Citigroup shares climb Friday after reporting better-than-expected third quarter earnings.
Citigroup (C) - Get Report reported third quarter earnings of $1.24 a share, $0.08 ahead of estimates. Revenue of $17.76 billion beat forecasts of $17.36 billion, but fell 4% year-over-year. The bright spot during the quarter was fixed income, with revenue rising 35% year-over-year to $3.47 billion, helping to lessen the impacts of a 34% drop in stock trading revenue. TheStreet's Scott Gamm reports from Wall Street.
