Citi reports Q3 EPS $1.63, consensus $1.21

Reports Q3 revenue $20.14B, consensus $19.32B. Reports Q3 CET1 capital ratio 13.5%. Reports Q3 tangible book value per share $86.90. Reports Q3 ROE 6.7%. Reports Q3 RoTCE 7.7%. Citi CEO Jane Fraser said, “Despite the headwinds, our five core, interconnected businesses each posted revenue growth resulting in overall growth of 9%. Services, our fastest growing business, grew by 13% with Treasury and Trade Solutions having its best quarter in a decade. Markets was up 10% driven by strength in Fixed Income. Banking activity played to our mix and grew 17%, bolstered by a rebound in debt issuance and some signs of life in the equity capital markets. U.S. Personal Banking also had double-digit revenue growth while a continued deceleration in spending indicates an increasingly cautious consumer. And Wealth revenues grew as the business continues to win new mandates and acquire new clients.”