Citigroup announced third-quarter earnings and revenue Friday morning that topped Wall Street expectations.
The bank said it saw adjusted earnings per share of $1.24 on $17.76 billion in revenue for the quarter. Wall Street analysts had expected Citi to report earnings of about $1.16 a share on revenue of $17.36 billion, according to a consensus estimate from Thomson Reuters.
Those results represent a decline on both the top and bottom lines compared to adjusted earnings of $1.31 per share on about $18.5 billion in adjusted revenue for the third quarter of 2015.
"I am very encouraged by the underlying momentum across our franchise, notably in several areas where we have been investing," Citi CEO Michael Corbat said in a release. "In the quarter, both our Global Consumer Bank and Institutional Clients Group had solid year-over-year revenue increases in nearly every business line and geography. We also continued to grow core loans and deposits while reducing non-core assets to just 3% of our balance sheet."
Citi's fixed income markets performance was particularly notable in the quarter, jumping 35 percent year-over-year.