NEW YORK (AP) — Citigroup Inc. says third-quarter net income rose to $4.62 billion from $4.13 billion a year ago.
The bank, based in New York, said it had earnings of $1.73 per share. Earnings, adjusted to account for discontinued operations, were $1.74 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share. Citi earned $1.42 per share a year earlier.
The bank posted revenue of $24.76 billion in the period. Its revenue net of interest expense was $18.39 billion, even with a year ago. The revenue figure was slightly below Street forecasts. Three analysts surveyed by Zacks expected $18.43 billion.
Citigroup shares have decreased 8 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 2 percent. The stock has declined almost 9 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on C at https://www.zacks.com/ap/C