Citigroup's fixed income trading division handed over the strongest third-quarter results in at least ten years, which was better than analysts' expectations, bringing the bank's total current revenue to a historically high level. The bank announced on Tuesday that the bond, foreign exchange and commodities trading sector received $4.4 billion in revenue, higher than analysts' average expectations of $4.3 billion. The supporting services business performed well during the same period. The business provided capital transfer and fund management services to enterprises and the government. Revenue increased 15% year over year to US$6.6 billion. The performance of the fixed income, foreign exchange, and commodity trading and supporting services business exceeded expectations, offsetting the weak trend of the M&A advisory business this quarter. M&A consulting revenue fell 4%, and revenue from the bond underwriting business also declined.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.