Investments

Citigroup posts $3.2 billion third-quarter profit

According to USA Today, Citigroup (C) posted a third-quarter profit of $3.2 billion, or $1 a share.

The results released Tuesday worked out to $1.02 a share excluding certain accounting adjustments, missing analysts' forecasts for profit of $1.04 a share. Revenue climbed 31% to $17.9 billion, missing estimates of $18.73 billion.

In last year's third quarter, Citigroup's net income was $468 million, or 15 cents a share, on revenue of $13.7 billion. Excluding one-time losses last year, profits fell 4% during the quarter, Citi said.

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