Citigroup Shares Fall Despite Q3 Beats
Shares of Citigroup (NYSE: C) were getting hammered on Tuesday, even though the company reported quarterly revenue and net profit well above analyst expectations.
For the big bank's Q3 of fiscal 2020, total revenue came in at $17.3 billion, which was 7% below the same quarter in 2019. Net profit fell at a far steeper rate, declining 35% to $3.2 billion ($1.40 per share). This performance was on the back of 16% growth in total deposits, and a 4% decline in loans.
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Source Fool.com
