Citigroup's third-quarter net income rose 16% year over year, totaling $3.8 billion, with firmwide revenues of $22.1 billion, up 9% compared to the same quarter last year.
Earnings per share were $1.86, exceeding analysts' expectations of $1.72, according to S&P Capital IQ.
Earnings per share would have been $2.24 if not for a $726 million goodwill impairment charge related to the sale of a 25% stake in Banamex.
Citigroup's five business lines reported record third-quarter revenue and higher returns, driven by investment banking.
Author's summary: Citi's earnings surpass Wall Street expectations.