Citigroup Third Quarter 2024 Earnings: Beats Expectations

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).

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.

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