Citigroup Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 10/16 10:31

Citigroup (NYSE:C) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$17.9b (down 2.4% from 3Q 2023).
  • Net income: US$3.24b (up 2.6% from 3Q 2023).
  • Profit margin: 18% (in line with 3Q 2023).
  • EPS: US$1.70 (up from US$1.64 in 3Q 2023).
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NYSE:C Earnings and Revenue Growth October 16th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Citigroup Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 15%.

Looking ahead, revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Citigroup that you need to take into consideration.