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Citigroup’s 3Q15 Earnings Top Expectations 

October 21, 2015

Rebecca Keats, Market Realist

Citigroup reported its third-quarter earnings on October 15, 2015. Citigroup is among the few banks to deliver extraordinary quarterly results in an otherwise dull earnings season.

Five of the largest US banks J.P. Morgan,  Wells Fargo, Bank of America, Citigroup, and Goldman Sachs —reported their earnings during the week. Bank earnings have been lackluster, weighed down by an industry-wide drop in trading revenues and low interest rates.

Citigroup announced strong profits for the quarter, topping analysts’ expectations. Investors responded positively to the results, sending Citigroup’s shares soaring 4.5% on October 15.

The company reported EPS (earnings per share) of $1.35, beating consensus estimates of $1.28 and up from the $0.95 reported during the same period last year. Excluding the effects of credit valuation adjustments, EPS came in at $1.31.

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