Citigroup earns $5.2bn as services revenue rises 15 percent
Citigroup's third-quarter earnings release puts net income at $5.245bn, up 40 percent from $3.752bn a year earlier. Revenue rose 8 percent to $23.845bn, with services revenue up 15 percent to $6.614bn.
The profit comparison includes a $726m pretax goodwill impairment in the 2025 quarter tied to the planned sale of a 25 percent Banamex stake. Reported operating expenses fell 2 percent to $13.952bn. Excluding that prior-year charge, expenses rose 3 percent.
Credit provisions also rose. The bank set aside $2.586bn, up 6 percent, while net credit losses were essentially unchanged at $2.217bn. Citi returned $4.1bn through common dividends and share repurchases.
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