BUZZ-Citigroup expects annual revenue at higher end of prior range; shares rise

Reuters2024-12-11
BUZZ-Citigroup expects annual revenue at higher end of prior range; shares rise

** Shares of Citigroup C.N rise as much as 2.1%; last up ~1% at $72.51

** Citi feels "very good" about its outlook for annual revenue, Chief Financial Officer Mark Mason says at Goldman Sachs U.S. Financial Services Conference in New York

** Citi's annual revenue likely to be at the high end of the prior forecast of between $80 bln and $81 bln, Mason says

** Citi gave a constructive update overall, particularly regarding annual revenue - Piper Sandler

** Citi also expects Q4 investment banking fees to jump between 25% and 30%, and markets revenue to be up in the "high-teens" compared to last year

** As of last close, Citi shares up 39.7% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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