Citigroup reported net income of $5.2 billion in the third quarter. Year-to-date severance expenses surpassed $1 billion across operations and technology.
Banking giants JPMorgan JPM and Citigroup C kicked off the third-quarter earnings season this week with contrasting results amid an uncertain economic backdrop. While JPMorgan reinforced its position as an industry leader in profitability and financial strength despite earnings miss, Citigroup delivered robust earnings growth as its multiyear restructuring efforts continued to gain momentum.
It's earnings season in the finance sector, and many banks are reporting earnings for the first time since the Federal Reserve's first interest rate hike since 2023. The hike was unanimous at 12-0, but the next move is anything but certain as we head into Q4.
Citigroup Inc. exceeded Q3 earnings and revenue expectations, but shares declined 5.6% and are down 11% over three months. I downgrade C stock to a Hold, citing macroeconomic headwinds, rising borrowing costs, and net interest income compression risks. Loan growth remains robust at 3.3% for Q3 and nearly 12% year-over-year, with deposits up almost 9% year-over-year.
Citigroup TodayCCitigroup$123.31 -1.22 (-0.98%) As of 12:46 PM Eastern This is a fair market value price provided by Massive. Learn more.52-Week Range$95.00▼$147.96Dividend Yield2.17%P/E Ratio13.34Price Target$150.79Add to WatchlistCiti Inc. NYSE: C reported its Q3 numbers Tuesday, Oct. 13, and even though the banking giant did almost everything investors could have asked of it last quarter, the market sold the stock anyway.
C raises its 2026 profitability outlook as strong Services growth, AI-driven efficiencies and disciplined capital deployment support higher returns.
Banking giants JPMorgan Chase and Citigroup kicked off Q3 earnings season on Tuesday, delivering contrasting results amid an uncertain economic environment.
Citigroup NYSE: C reported third-quarter 2026 net income of $5.2 billion, or $2.85 per share, as revenue rose 8% year over year to $23.8 billion. The bank generated a return on tangible common equity, or ROTCE, of 11.5%, up 180 basis points from a year earlier, while net income increased 17%.
Wall Street's biggest banks reported no sign of credit strain in the third quarter, yet shares of retail-heavy lenders JPMorgan Chase & Co (NYSE:JPM, XETRA:CMC) and Citigroup Inc (NYSE:C) struggled Tuesday as investors looked ahead to what a flattening yield curve could mean for future credit risk. Kathleen Brooks, research director at XTB, said none of the major banks flagged rising loan losses or credit problems.
C shares lost nearly 2.9% despite a Q3'26 earnings beat, as higher credit loss provisions and weaker capital ratios offset NII growth and lower expenses.
Citigroup Inc (NYSE:C) reported third-quarter earnings and revenue that topped analyst expectations on Tuesday, driven by double-digit growth in its services and wealth businesses. The bank posted adjusted earnings of $2.85 per share, up 27% from a year earlier and ahead of the $2.66 analysts had forecast.
Citi profit jumps 40% with higher investment banking, services and wealth revenue