By The Citibank building in Canada Square at the heart of Canary Wharf financial district in London on May 7, 2024.
Mike Kemp | In Pictures | Getty Images
Citigroup reported its third-quarter earnings before the opening bell on Tuesday, giving investors the latest updates about the progress of CEO Jane Fraser’s turnaround plan.
Here’s what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:
- Earnings per share: $1.51, vs. $1.31 estimate
- Revenue: $20.32 billion, vs. $19.84 billion estimate
Fraser took over in March 2021 and has focused on slimming down the bank during her tenure. That includes reducing Citigroup’s global presence and laying off workers.
Investment banking and equities trading were two bright spots for the bank in its second-quarter earnings report, released in July.
Shares of Citigroup were up more than 28% year to date through Monday, outperforming both the S&P 500 and the financial sector.
