These 5 Stocks are Gaining Today

4. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Holders: 82

Shares of Citigroup Inc. (NYSE:C) inched higher this morning after surpassing profit and sales expectations for the third quarter. The New York-based bank reported earnings of $1.63 per share, beating estimates of $1.42 per share.

In addition, Citigroup Inc. (NYSE:C) posted revenue of $18.5 billion, compared to $17.4 billion in the same period of 2021. On the other hand, analysts were looking for revenue of $18.3 billion.

Discussing the results, CEO of Citigroup Inc. (NYSE:C), Jane Fraser, said in a statement:

“We are intensely focused on supporting our clients and executing our strategy. We have made good progress on many of the core business drivers we laid out at Investor Day, despite the complex macro environment. Treasury and Trade Solutions saw revenues up 40% year-over-year, with growth across all segments, and Securities Services was up 15%. In Fixed Income, we matched last year’s showing through our strength in FX, while Equities came in lower than last year. Banking was the business most adversely impacted by the macro environment with reduced deal flows and a lower appetite for M&A. While the backdrop for wealth management was difficult, our revenues were up outside of Asia. U.S. Personal Banking further solidified its growth trajectory with double digit revenue growth in both of our cards businesses.”