Citigroup: Q3 EPS above estimates
(CercleFinance.com) - Citigroup has published Q3 2019 net profit that is up 6% at 4.
9 billion dollars, i.e. 2.07 dollars per share, 12 cents above the consensus.
At nearly 18.6 billion dollars, the banking group's revenues inched up 1%, in particular supported by a gain of around 250 million dollars made on the sale of an asset management business in Mexico.
Citigroup's operating costs also increased by 1% to 10.5 billion dollars, including ongoing investments and efficiency savings, while its cost of credit increased by 6% to 2.1 billion dollars.
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