Citigroup, Inc. (C) Posts Q3 Profit of 84c/Share Excluding CVA

Citigroup, Inc. (NYSE: C) reported Q3 EPS of $1.23, which may not compare to the analyst estimate of $0.82. Revenue for the quarter came in at $20.8 billion versus the consensus estimate of $19.59 billion.

The bank said earnings excluding credit valuation adjustment totaled $0.84.

Vikram Pandit, Citi’s Chief Executive Officer, said, "Citi continues to navigate a challenging economic environment and delivered another quarter of solid operating results. We continued to manage our risk prudently while growing the businesses that are core to our strategy. We have reduced the size of Citi Holdings to 15% of our balance sheet and further improved our financial strength. We are very well positioned as we help our clients navigate the world's current trends and key opportunities."

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