Citigroup Inc. (NYSE: C) reported a decrease in net income for the third quarter of 2024 when the banking behemoth’s revenues remained broadly unchanged year-over-year. The numbers came in above analysts’ estimates.
Net profit for the September quarter was $3.2 billion or $1.51 per share, compared to $3.5 billion or $1.63 per share in the corresponding period last year. Earnings topped expectations.
Total revenues were $20.3 billion in the third quarter, compared to $20.1 billion in the prior-year period. The top line exceeded analysts’ estimates.
“We are on track to meet our expense and revenue targets for the year and look to close out 2024 with momentum as we prepare for 2025,” said Citi’s CEO Jane Fraser.