Citigroup's third quarter 2026 earnings beat estimates as revenue grew 8% to $23.8 billion

Citigroup reported third quarter 2026 revenue of $23.85 billion and diluted earnings per share of $2.85, both exceeding analyst expectations. Results were driven by double-digit growth in the high-margin Services segment and significant expansion in Equity Markets revenue, reflecting progress in the bank's multi-year organizational transformation.

Key Highlights

• Revenue increased 8% year-over-year, marking the best third-quarter performance for the company in a decade.
• Efficiency ratio improved to 58.5%, successfully outperforming the bank's full-year target of approximately 60%.
• Services revenue rose 15% to $6.6 billion, led by a 16% increase in Treasury and Trade Solutions (TTS) and a 13% gain in Securities Services.
• Equity Markets revenue grew 14% to $1.7 billion, driven by a 40% surge in prime balances.
• Equity Capital Markets (ECM) revenue jumped 77%, though overall Investment Banking growth was moderated to 9% by lower Advisory and Debt Underwriting volumes.