Core Viewpoint - Citigroup's five major business lines exceeded Wall Street expectations, aiding the bank in managing rising compensation costs and its plan to sell part of its Banamex retail business in Mexico [1] Group 1: Financial Performance - Citigroup's Q3 revenue surged 9% to $22.1 billion, with earnings per share at $1.86, aligning with analyst estimates and reflecting a 23% increase year-over-year [1] - The bank achieved record revenues in its markets, investment banking, services, wealth management, and U.S. retail divisions for Q3 [1] - Total revenue from trading in stocks and fixed income reached $5.6 billion, a 15% increase compared to the same period last year [1] Group 2: Expenses and Strategic Moves - Operating expenses rose by 9%, primarily due to costs associated with the planned sale of Banamex shares ahead of a public offering [1] - Increased compensation and benefits expenses were noted, as CEO Jane Fraser has been actively recruiting talent from Wall Street to strengthen the trading division [1] - The company is investing resources across the board to enhance competitiveness and rectify systems that previously attracted regulatory penalties [1] Group 3: Market Position and Competitiveness - Since 2025, Citigroup's stock performance has outpaced nearly all major U.S. peers, only slightly behind Goldman Sachs [1] - Fraser emphasized that the cumulative effects of recent transformations, strategic refreshes, and business simplifications have positioned Citigroup in a new competitive phase [1] Group 4: Revenue Growth in Specific Segments - The services and U.S. retail banking segments both saw a 7% revenue increase, marking their strongest quarterly performance in history [3] - Wealth management revenue grew approximately 8%, driven by Citigold, a platform targeting affluent clients who do not meet private banking thresholds [3]