Citigroup posts strong trading results amid layoffs, beats profit estimates (C)

REUTERS/Brendan McDermid Citigroup reported third-quarter earnings on Tuesday morning before the opening bell. Both revenue and earnings per share outperformed Wall Street expectations. The firm saw trading results slip just 1% amid hundreds of layoffs, beating expectations for a 4% decline. The bank also reported fixed-income trading revenue that beat estimates and equities trading revenue…

Citigroup posts strong trading results amid layoffs, beats profit estimates (C)

REUTERS/Brendan McDermid
Citigroup reported third-quarter earnings on Tuesday morning before the opening bell.
Both revenue and earnings per share outperformed Wall Street expectations.
The firm saw trading results slip just 1% amid hundreds of layoffs, beating expectations for a 4% decline.
The bank also reported fixed-income trading revenue that beat estimates and equities trading revenue that fell short of forecasts. 
Watch Citigroup trade live.
Citigroup joined its Wall Street competitors JP Morgan and Goldman Sachs in reporting third-quarter earnings on Tuesday morning before the opening bell.
The firm reported both revenue and earnings per share that exceeded Wall Street expectations. Further, Citigroup saw trading results slip just 1% amid hundreds of layoffs, beating expectations for a 4% decline. Shares traded as much as 1.4% lower on the report. 
Here are Citigroup’s third quarter results compared to what analysts expected:

Revenue: $18.6 billion, versus $18.54 expected 
Earnings per share: $1.97 versus, $1.95 expected
Net inc
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