Citigroup surprises analysts
Citigroup Inc. said today that its third-quarter profit rose to $3.8 billion, or $1.23 a share, compared with $2.2 billion, or 73 cents a share, a year ago, MarketWatch reported. Third-quarter earnings per share, excluding a credit valuation adjustment, were 84 cents a share. Revenues climbed to $20.8 billion, from $20.7 billion a year ago. Third-quarter revenues included a credit valuation adjustment of $1.9 billion. Analysts polled by FactSet Research had expected the company to earn 82 cents a share on revenues of $19.27 billion.
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