Citigroup Profit Jumps 48% After Releasing Rainy-Day Funds

Citigroup Inc. mentioned Thursday its third-quarter revenue rose 48%, after the financial institution launched a few of the cash it had put aside for dangerous loans early within the pandemic.

The financial institution reported a revenue of $4.64 billion, or $2.15 per share, up from $3.15 billion, or $1.36 a share, a 12 months earlier. That beat the $1.71 per share that analysts had anticipated, in accordance with FactSet.

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