Citigroup Shares Rise as Profit Beats Analysts’ Estimates
This article is for subscribers only.
Citigroup Inc. advanced the most among the largest U.S. banks, reaching a six-month high after reporting a surprise third-quarter profit and a surge in bond-trading revenue that beat analysts’ estimates.
Citigroup rose 5.5 percent to close at $36.66 in New York, the biggest gain in the 81-company Standard & Poor’s 500 Financials Index, after the New York-based lender said net income excluding one-time items and a $582 million tax benefit was $1.06 a share. That beat the 97-cent average estimate of 25 analysts surveyed by Bloomberg.