Citi reports a rise in earnings with every business posting record third-quarter revenue

Citigroup posted higher third-quarter net connected Tuesday earlier the bell, with each part generating grounds revenue.

Here's what the slope reported compared with what Wall Street was expecting, based connected a survey of analysts by LSEG:

• Earnings per share: Profit jumped 23% to $1.86 from a twelvemonth earlier but not comparable owed to a Banamex goodwilll charge.
• Revenue: $22.09 cardinal versus $21.09 cardinal expected.

Shares of the slope climbed astir 1% successful premarket trading Tuesday pursuing the results.

Citi's nett income roseate 15% to $3.8 cardinal from a twelvemonth earlier, portion revenues were up 9% arsenic each concern posted grounds numbers. Services concern enjoyed its champion 4th ever with revenues up 7%. Banking revenues surged 34%, portion the markets conception delivered its champion 3rd 4th with revenues jumping 15%.

"Investments successful caller products, integer assets and AI are driving innovation and improved capabilities crossed the franchise," Citigroup CEO Jane Fraser said successful a statement. "The relentless execution of our strategy is delivering stronger concern show 4th aft 4th and improving our returns."

Citigroup is selling a 25% equity involvement successful its Mexico business, Banamex, up of a nationalist banal offer. The costs associated with the merchantability drove up expenses by 9% past quarter.

The slope banal has risen much than 36% this year, importantly outperforming the S&P 500.